Renovare Inc

Analysis

Renovare Inc is a registered charity in United States, based in Palatine, IL. It received its IRS tax-exemption ruling in July 1989, 37 years ago. 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 June 2023, Renovare Inc reported income of $1.6m and spending of $1.6m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $1.6m (+45%), an average of +9.8% a year. The sharpest change came in the year to June 2022, when income rose by 40%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Renovare Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within IL. Charities of a similar size with the same main cause include Camp Fire ($1.6m), Childrens School of Boise Id ($1.6m) and Elluminate Inc ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% and program service revenue 43% of the total. Other salaries and wages came to $724k. At year end it held assets of $723k against liabilities of $162k, net assets of $561k. It reported 9 employees.