Wovenlife Inc

Analysis

Wovenlife Inc is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in August 1939, 87 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 August 2023, Wovenlife Inc reported income of $2.1m and spending of $2.1m, spending 99% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.5m to $2.1m (+39%), an average of +8.6% a year. The sharpest change came in the year to August 2020, when income rose by 18%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Wovenlife Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within OK. Charities of a similar size with the same main cause include Stronghold Rescue & Relief ($2.1m), Monarch Immigrant Services ($2.1m) and Hop on a Cure Foundation Inc ($2.1m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 31% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $97k (4.7% of expenses). Other salaries and wages came to $954k. It paid $41k in professional fundraising fees. At year end it held assets of $4.5m against liabilities of $96k, net assets of $4.4m. It reported 52 employees.