Carobell Inc

Analysis

Carobell Inc is a registered charity in United States, based in Hubert, NC. It received its IRS tax-exemption ruling in November 1970, 56 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 2024, Carobell Inc reported income of $7.1m and spending of $7.5m, spending 105% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $5.8m to $7.1m (+23%), an average of +5.2% a year. The sharpest change came in the year to June 2021, when income rose by 21%. 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, Carobell Inc sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within NC. Charities of a similar size with the same main cause include Proyecto Pastoral ($7.1m), Northcentral Arkansas Development Council Inc 9th & Oak STS ($7.1m) and Pedal the Cause ($7.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.2% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $180k (2.4% of expenses). Other salaries and wages came to $4.6m. At year end it held assets of $4.2m against liabilities of $643k, net assets of $3.6m. It reported 171 employees.