Note in the Pocket Inc

Analysis

Note in the Pocket Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in August 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, Note in the Pocket Inc reported income of $3.9m and spending of $3.5m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $3.9m (+175%), an average of +29% a year. The sharpest change came in the year to December 2022, when income rose by 80%. Over the whole period it spent 80% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Note in the Pocket Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within NC. Charities of a similar size with the same main cause include Morrisania Revitalization Corp Inc ($3.9m), Barrier Free Living Holding Inc ($3.9m) and William Way LGBT Community Center ($3.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $498k. At year end it held assets of $3.5m against liabilities of $1.4m, net assets of $2.1m. It reported 25 employees.