Joel Fund

Analysis

Joel Fund is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in April 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 December 2023, Joel Fund reported income of $243k and spending of $250k, spending 103% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $312k to $243k (-22%), an average of -12% a year. The sharpest change came in the year to December 2023, when income dropped by 20%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Joel Fund sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 56th percentile within NC. Charities of a similar size with the same main cause include Providence State Street Housing Development Fund Company Inc ($243k), Our Blessings Early Learning Center Inc ($243k) and Providence Family Life Center ($243k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 1.6% of the total. Compensation of current officers, directors and key employees was $52k (21% of expenses). Other salaries and wages came to $77k. At year end it held assets of $118k against liabilities of $3,800, net assets of $114k. It reported 4 employees.