Helpmate Inc

Analysis

Helpmate Inc is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in August 1981, 45 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, Helpmate Inc reported income of $4.2m and spending of $3.0m, leaving 29% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.1m to $4.2m (+94%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 36%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Helpmate Inc sits at the 89th percentile: it is larger than about 89% 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 Core Project Inc ($4.2m), Reach Inc ($4.2m) and Respite Care Services Inc ($4.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $198k (6.7% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $8.9m against liabilities of $5.2m, net assets of $3.7m. It reported 60 employees.