Caringworks Inc

Analysis

Caringworks Inc is a registered charity in United States, based in Decatur, GA. It received its IRS tax-exemption ruling in January 2004, 22 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 December 2023, Caringworks Inc reported income of $11.3m and spending of $11.2m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.4m to $11.3m (+35%), an average of +7.8% a year. The sharpest change came in the year to December 2021, when income rose by 15%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Caringworks Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within GA. Charities of a similar size with the same main cause include Cornerstone Community Action Agency Inc ($11.3m), Visioncorps ($11.3m) and Grand Farm Research and Education Initiative Inc ($11.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 4.6% of the total. Compensation of current officers, directors and key employees was $542k (4.9% of expenses). Other salaries and wages came to $2.9m. It paid $69k in professional fundraising fees. At year end it held assets of $3.7m against liabilities of $1.9m, net assets of $1.8m. It reported 86 employees.