Wayfare Labs

Analysis

Wayfare Labs is a registered charity in United States, based in Costa Mesa, CA. It received its IRS tax-exemption ruling in January 2017, 9 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 February 2024, Wayfare Labs reported income of $314k and spending of $276k, spending 88% of its income. Across the 2 years on record, from February 2023 to February 2024, income grew from $182k to $314k (+72%), an average of +72% a year. The sharpest change came in the year to February 2024, when income rose by 72%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Wayfare Labs sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 65th percentile within CA. Charities of a similar size with the same main cause include Hope for Grateful Hearts Corp ($314k), Palisades Village ($314k) and Green Tree Charity a NJ Nonprofit Corporation ($314k).

On its Form 990 for the period ending February 2024, revenue came from contributions and grants 74% and program service revenue 14% of the total. At year end it held assets of $65k against liabilities of $1,030, net assets of $64k. It reported 6 employees.