Redbud Financial Alternatives Inc

Analysis

Redbud Financial Alternatives Inc is a registered charity in United States, based in Hazard, KY. It received its IRS tax-exemption ruling in March 2016, 10 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 June 2023, Redbud Financial Alternatives Inc reported income of $472k and spending of $312k, leaving 34% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $470k to $472k (+0.3%), an average of +0.1% a year. The sharpest change came in the year to June 2021, when income rose by 78%. Over the whole period it spent 52% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Redbud Financial Alternatives Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 70th percentile within KY. Charities of a similar size with the same main cause include Martin Luther King Multi-Purpose Center ($472k), Healing Arizona Veterans ($472k) and True Organic Inc ($472k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 17% of the total. At year end it held assets of $2.4m against liabilities of $1.3m, net assets of $1.0m.