Patchwork

Analysis

Patchwork is a registered charity in United States, based in Nashville, TN. It received its IRS tax-exemption ruling in January 2022, 4 years ago. Its declared purposes cover food, agriculture and nutrition, 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, Patchwork reported income of $295k and spending of $394k, spending 134% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $599k to $295k (-51%), an average of -51% a year. The sharpest change came in the year to December 2023, when income dropped by 51%. Over the whole period it spent 103% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Patchwork sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 62nd percentile within TN. Charities of a similar size with the same main cause include The Penguin Project Foundation Inc ($295k), Bikur Cholim of Miami Beach Inc ($295k) and Dupont Circle Village ($295k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $55k (14% of expenses). Other salaries and wages came to $93k. At year end it held assets of $8,270 against liabilities of $0, net assets of $8,270. It reported 4 employees.