Swag Custom Rides Inc

Analysis

Swag Custom Rides Inc is a registered charity in United States, based in New Britain, CT. It received its IRS tax-exemption ruling in February 2015, 11 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 2022, Swag Custom Rides Inc reported income of $345k and spending of $407k, spending 118% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $416k to $345k (-17%), an average of -6.1% a year. The sharpest change came in the year to December 2021, when income rose by 46%. Over the whole period it spent 143% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Swag Custom Rides Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 61st percentile within CT. Charities of a similar size with the same main cause include Chaverim Israel Family Services Inc ($345k), Focused Outreach Richmond Incorporated ($345k) and CE International ($344k).

On its Form 990 for the period ending December 2022, revenue came from program service revenue 100% of the total. Other salaries and wages came to $108k. At year end it held assets of $859k against liabilities of $450k, net assets of $408k. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.