Pirate Springs

Analysis

Pirate Springs is a registered charity in United States, based in Cleveland, TN. It received its IRS tax-exemption ruling in May 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Pirate Springs reported income of $237k and spending of $261k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $307k to $237k (-23%), an average of -6.2% a year. The sharpest change came in the year to December 2021, when income dropped by 26%. Over the whole period it spent 111% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Pirate Springs 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 58th percentile within TN. Charities of a similar size with the same main cause include Latina Lawyers Bar Association ($237k), Good Life Refuge ($237k) and Kiddie Kare Day Care Center Inc ($237k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $41k (16% of expenses). Other salaries and wages came to $39k. At year end it held assets of $434k against liabilities of $543k, net assets of -$108k. It reported 3 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.