Commonwealth Cares Inc

Analysis

Commonwealth Cares Inc is a registered charity in United States, based in Charlottesville, VA. It received its IRS tax-exemption ruling in December 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, Commonwealth Cares Inc reported income of $105k and spending of $116k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $177k to $105k (-41%), an average of -12% a year. The sharpest change came in the year to December 2022, when income rose by 54%. Over the whole period it spent 83% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Commonwealth Cares Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 38th percentile within VA. Charities of a similar size with the same main cause include Hope Ministries of the Upstate ($105k), Jonas Brothers Change for the Children Foundation ($105k) and Glory to God International Ministries Inc ($105k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 164% of the total. At year end it held assets of $149k against liabilities of $0, net assets of $149k.