Velle Cares Foundation Inc

Analysis

Velle Cares Foundation Inc is a registered charity in United States, based in New Hill, NC. It received its IRS tax-exemption ruling in September 2015, 11 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 2022, Velle Cares Foundation Inc reported income of $58k and spending of $116k, spending 201% of what it took in. Across the 2 years on record, from December 2021 to December 2022, income fell from $227k to $58k (-75%), an average of -74% a year. The sharpest change came in the year to December 2022, when income dropped by 75%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Velle Cares Foundation Inc sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 21st percentile within NC. Charities of a similar size with the same main cause include Connecticut Association of Adult Day Centers Inc ($58k), Fundacion Coamenos Por LA Ninez Inc ($58k) and Families Engagement Program Inc ($58k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $27k against liabilities of $0, net assets of $27k.