Caritas

Analysis

Caritas is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in June 1988, 38 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Caritas reported income of $6.8m and spending of $6.8m, spending 99% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $8.4m to $6.8m (-18%), an average of -6.6% a year. The sharpest change came in the year to June 2021, when income dropped by 40%. Over the whole period it spent 84% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Caritas sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within VA. Charities of a similar size with the same main cause include Residential Support Services ($6.8m), Habitat for Humanity Internal Inc ($6.8m) and Community Resources & Housing Development Corporation ($6.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $472k (7.0% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $21.7m against liabilities of $2.0m, net assets of $19.7m. It reported 134 employees.