Caribe Towers Inc

Analysis

Caribe Towers Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in March 2003, 23 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 June 2024, Caribe Towers Inc reported income of $1.1m and spending of $781k, leaving 29% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $513k to $1.1m (+115%), an average of +16% a year. The sharpest change came in the year to June 2024, when income rose by 90%. Over the whole period it spent 111% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Caribe Towers Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within PA. Charities of a similar size with the same main cause include Casa Calderon Inc ($1.1m), Have Mercy ($1.1m) and Sojourner House Inc ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 54% of the total. Other salaries and wages came to $150k. At year end it held assets of $5.9m against liabilities of $8.4m, net assets of -$2.5m.