Clothed by Faith Inc

Analysis

Clothed by Faith Inc is a registered charity in United States, based in Katy, TX. It received its IRS tax-exemption ruling in February 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 2023, Clothed by Faith Inc reported income of $590k and spending of $645k, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $353k to $590k (+67%), an average of +14% a year. The sharpest change came in the year to December 2022, when income rose by 64%. 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, Clothed by Faith Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 77th percentile within TX. Charities of a similar size with the same main cause include Sponsor 4 Success Inc ($590k), Freedom Center for Social Justice ($590k) and Niobrara Senior Center Incorporated ($590k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% of the total. Compensation of current officers, directors and key employees was $84k (13% of expenses). Other salaries and wages came to $245k. At year end it held assets of $266k against liabilities of $7,080, net assets of $259k. It reported 13 employees.