True Colors United Inc

Analysis

True Colors United Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 2012, 14 years ago. Its declared purposes cover civil rights, social action and advocacy, which this site groups under human rights and equality. 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, True Colors United Inc reported income of $3.4m and spending of $6.2m, spending 183% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $3.0m to $3.4m (+14%), an average of +2.6% a year. The sharpest change came in the year to December 2020, when income rose by 46%. Over the whole period it spent 95% of the income it received.

Among 9,611 United States charities whose main cause is human rights and equality and that reported income, True Colors United Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Sam Inc ($3.4m), Transformative Justice Coalition ($3.4m) and Jumpstart ($3.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% of the total. Compensation of current officers, directors and key employees was $364k (5.9% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $534k against liabilities of -$37k, net assets of $571k. It reported 26 employees.