Another Way Inc

Analysis

Another Way Inc is a registered charity in United States, based in Lake City, FL. It received its IRS tax-exemption ruling in March 1992, 34 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, Another Way Inc reported income of $2.7m and spending of $2.7m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.1m to $2.7m (+30%), an average of +6.8% a year. The sharpest change came in the year to June 2022, when income rose by 19%. 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, Another Way Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within FL. Charities of a similar size with the same main cause include Valley Educational Associates Inc ($2.7m), Roanoke Developmental Center Inc ($2.7m) and Northern Door Child Care Project Inc ($2.7m).

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 $293k (11% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $3.9m against liabilities of $648k, net assets of $3.2m. It reported 66 employees.