Wabisabi Inc

Analysis

Wabisabi Inc is a registered charity in United States, based in Moab, UT. It received its IRS tax-exemption ruling in January 2003, 23 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Wabisabi Inc reported income of $619k and spending of $600k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $576k to $619k (+7.4%), an average of +1.8% a year. The sharpest change came in the year to December 2021, when income rose by 41%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Wabisabi Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within UT. Charities of a similar size with the same main cause include Here 4 Kids ($619k), New Life Warehouse Inc ($619k) and Rebecca a Copeland Fund for Social Justice ($619k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 27% of the total. Compensation of current officers, directors and key employees was $68k (11% of expenses). Other salaries and wages came to $259k. At year end it held assets of $321k against liabilities of $6,912, net assets of $314k. It reported 29 employees.