Sheared Inc

Analysis

Sheared Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Sheared Inc reported income of $231k and spending of $182k, leaving 21% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $464k to $231k (-50%), an average of -50% a year. The sharpest change came in the year to December 2023, when income dropped by 50%. 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, Sheared Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 54th percentile within NY. Charities of a similar size with the same main cause include Stoughton Fair Association ($231k), Highland Charitable Foundation ($231k) and At the Table Inc ($231k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $60k (33% of expenses). Other salaries and wages came to $13k. At year end it held assets of $82k against liabilities of $0, net assets of $82k. It reported 2 employees.