Carolines Promise

Analysis

Carolines Promise is a registered charity in United States, based in Bowling Green, VA. It received its IRS tax-exemption ruling in March 2024, 2 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, Carolines Promise reported income of $57k and spending of $50k, spending 87% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $48k to $57k (+18%), an average of +5.8% a year. The sharpest change came in the year to June 2021, when income rose by 18%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Carolines Promise sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 22nd percentile within VA. Charities of a similar size with the same main cause include Vega Foundation ($57k), Hope & Health Project Inc ($57k) and Grayson County Welfare Board Inc ($57k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $60k against liabilities of $0, net assets of $60k.