Cars for Neighbors Inc

Analysis

Cars for Neighbors Inc is a registered charity in United States, based in Blaine, MN. It received its IRS tax-exemption ruling in July 2000, 26 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cars for Neighbors Inc reported income of $184k and spending of $216k, spending 118% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $150k to $184k (+22%), an average of +5.1% a year. The sharpest change came in the year to December 2020, when income rose by 42%. Over the whole period it spent 110% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Cars for Neighbors Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 50th percentile within MN. Charities of a similar size with the same main cause include Mudd-Nick Foundation ($183k), Team Hally Fund ($184k) and Rotary of Annapolis Foundation Inc ($183k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $32k (15% of expenses). Other salaries and wages came to $23k. At year end it held assets of $96k against liabilities of $10k, net assets of $86k. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.