The Redbone Inc

Analysis

The Redbone Inc is a registered charity in United States, based in Islamorada, FL. It received its IRS tax-exemption ruling in September 1990, 36 years ago. 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 December 2023, The Redbone Inc reported income of $66k and spending of $68k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $413k to $66k (-84%), an average of -37% a year. The sharpest change came in the year to December 2023, when income dropped by 61%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Redbone Inc sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 30th percentile within FL. Charities of a similar size with the same main cause include American Guild of Organists ($66k), Los Angeles Center for Economic Survival ($66k) and Sevier County Youth Center Inc ($66k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $4,000 (5.9% of expenses). At year end it held assets of $301k against liabilities of $62k, net assets of $239k. It reported 1 employees.