1040 Visions

Analysis

1040 Visions is a registered charity in United States, based in Suffolk, VA. It received its IRS tax-exemption ruling in December 2013, 13 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, 1040 Visions reported income of $130k and spending of $129k, spending 99% of its income. Across the 4 years on record, from December 2020 to December 2023, income fell from $209k to $130k (-38%), an average of -15% a year. The sharpest change came in the year to December 2023, when income dropped by 28%. 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, 1040 Visions sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 43rd percentile within VA. Charities of a similar size with the same main cause include Throw Back Thrift ($130k), Tiger Foundation Inc ($130k) and Santas Volunteers ($130k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $112k against liabilities of $0, net assets of $112k.