Forty Carrots of Sarasota Inc

Analysis

Forty Carrots of Sarasota Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in February 1994, 32 years ago. 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 May 2023, Forty Carrots of Sarasota Inc reported income of $6.0m and spending of $3.4m, leaving 43% of income unspent that year. Across the 4 years on record, from May 2020 to May 2023, income grew from $2.4m to $6.0m (+149%), an average of +36% a year. The sharpest change came in the year to May 2022, when income rose by 52%. Over the whole period it spent 70% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Forty Carrots of Sarasota Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within FL. Charities of a similar size with the same main cause include Kentucky River Area Development District Inc ($6.0m), Covenant House Georgia Inc ($6.0m) and Girl Scouts of Nassau County Inc ($6.0m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 83% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $175k (5.2% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $10.3m against liabilities of $1.0m, net assets of $9.3m. It reported 62 employees.