Charites Inc

Analysis

Charites Inc is a registered charity in United States, based in Chesapeake, VA. It received its IRS tax-exemption ruling in June 1982, 44 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 December 2023, Charites Inc reported income of $51k and spending of $53k, spending 103% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $72k to $51k (-28%), an average of -28% a year. The sharpest change came in the year to December 2023, when income dropped by 28%. Over the whole period it spent 126% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Charites Inc sits at the 19th percentile: it is larger than about 19% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 19th percentile within VA. Charities of a similar size with the same main cause include Hunterdon Central Regional High School Band Parents Association in ($51k), Maryland Veterinary Foundation ($51k) and Merryall Community Center Incorporated ($51k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 88% of the total. At year end it held assets of $14k against liabilities of $0, net assets of $14k.