Facets Cares Inc

Analysis

Facets Cares Inc is a registered charity in United States, based in Fairfax, VA. It received its IRS tax-exemption ruling in January 1990, 36 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 June 2023, Facets Cares Inc reported income of $8.9m and spending of $8.4m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.6m to $8.9m (+92%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 80%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Facets Cares Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within VA. Charities of a similar size with the same main cause include West Central Independent Living Solutions Fiscal Agent ($8.9m), Room at the Inn Inc ($8.9m) and Church of God ($8.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $164k (2.0% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $4.3m against liabilities of $1.2m, net assets of $3.1m. It reported 145 employees.