58ten Inc

Analysis

58ten Inc is a registered charity in United States, based in Elverson, PA. It received its IRS tax-exemption ruling in June 2011, 15 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, 58ten Inc reported income of $461k and spending of $459k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $369k to $461k (+25%), an average of +5.7% a year. The sharpest change came in the year to December 2021, when income rose by 32%. 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, 58ten Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 67th percentile within PA. Charities of a similar size with the same main cause include Wisdomworks ($461k), Ricardo Ogorman Garden and Center for Resources in the Humanities in ($461k) and Community Alliance Residential Services ($461k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $214k against liabilities of $3,600, net assets of $210k.