Caringbridge

Analysis

Caringbridge is a registered charity in United States, based in Bloomington, MN. It received its IRS tax-exemption ruling in September 2002, 24 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Caringbridge reported income of $12.8m and spending of $11.8m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.7m to $12.8m (+32%), an average of +7.1% a year. The sharpest change came in the year to December 2020, when income rose by 17%. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Caringbridge sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include Methodist Family Health Inc ($12.8m), Coalition of Cancer Cooperative Groups ($12.8m) and KVC Behavioral Healthcare Nebraska Inc ($12.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $1.3m (11% of expenses). Other salaries and wages came to $4.5m. It paid $213k in professional fundraising fees. At year end it held assets of $6.5m against liabilities of $1.2m, net assets of $5.4m. It reported 55 employees.