Careyes Foundation

Analysis

Careyes Foundation is a registered charity in United States, based in Santa Monica, CA. It received its IRS tax-exemption ruling in February 2013, 13 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, Careyes Foundation reported income of $128k and spending of $312k, spending 244% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $182k to $128k (-30%), an average of -8.4% a year. The sharpest change came in the year to December 2021, when income rose by 78%. Over the whole period it spent 108% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Careyes Foundation sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 45th percentile within CA. Charities of a similar size with the same main cause include Seeds of Hope Incorporated ($128k), Recovery Shot ($128k) and Unlimited Fitness Foundation ($128k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $16k (5.1% of expenses). Other salaries and wages came to $66k. At year end it held assets of $109k against liabilities of $41k, net assets of $68k.