Cares Center Inc

Analysis

Cares Center Inc is a registered charity in United States, based in Jackson, MS. It received its IRS tax-exemption ruling in July 1995, 31 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cares Center Inc reported income of $21.5m and spending of $19.7m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $13.9m to $21.5m (+55%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 26%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cares Center Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within MS. Charities of a similar size with the same main cause include Global Outreach Charter Academys ($21.5m), Oaks Academy Inc ($21.5m) and American Heritage Schools Inc ($21.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $899k (4.6% of expenses). Other salaries and wages came to $11.5m. At year end it held assets of $9.0m against liabilities of $4.1m, net assets of $4.9m. It reported 319 employees.