I Care Inc

Analysis

I Care Inc is a registered charity in United States, based in Statesville, NC. It received its IRS tax-exemption ruling in February 1967, 59 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 April 2023, I Care Inc reported income of $4.3m and spending of $4.1m, spending 97% of its income. Across the 4 years on record, from April 2020 to April 2023, income grew from $3.9m to $4.3m (+8.8%), an average of +2.8% a year. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, I Care Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within NC. Charities of a similar size with the same main cause include Alabama Veteran ($4.3m), Fellowship House Inc ($4.3m) and St Anns Corner of Harm Reduction Inc ($4.3m).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $131k (3.2% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $882k against liabilities of $504k, net assets of $378k. It reported 70 employees.