Charity Cars Inc

Analysis

Charity Cars Inc is a registered charity in United States, based in Altamonte SPG, FL. It received its IRS tax-exemption ruling in June 1996, 30 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2024, Charity Cars Inc reported income of $4.2m and spending of $5.3m, spending 126% of what it took in. Across the 5 years on record, from August 2020 to August 2024, income fell from $9.5m to $4.2m (-56%), an average of -19% a year. The sharpest change came in the year to August 2024, when income dropped by 55%. Over the whole period it spent 108% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Charity Cars 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 FL. Charities of a similar size with the same main cause include Foster Children Safe Haven ($4.2m), Kenai Peninsula Food Bank Inc ($4.2m) and Hospice of the North Country Inc ($4.2m).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $503k (9.6% of expenses). Other salaries and wages came to $323k. At year end it held assets of $572k against liabilities of $118k, net assets of $453k. It reported 17 employees.