Safetynet Inc

Analysis

Safetynet Inc is a registered charity in United States, based in Martinsville, VA. It received its IRS tax-exemption ruling in September 1985, 41 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 August 2024, Safetynet Inc reported income of $183k and spending of $114k, leaving 38% of income unspent that year. Across the 6 years on record, from August 2019 to August 2024, income fell from $248k to $183k (-26%), an average of -5.8% a year. The sharpest change came in the year to August 2021, when income rose by 58%. Over the whole period it spent 52% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Safetynet Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 51st percentile within VA. Charities of a similar size with the same main cause include Indiana Members Foundation Inc ($183k), Be Finally Free Inc ($183k) and Reaching Our Community ($183k).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 33% of the total. Other salaries and wages came to $7,196. At year end it held assets of $1.9m against liabilities of $228, net assets of $1.9m. It reported 1 employees.