Carerite T F C Inc

Analysis

Carerite T F C Inc is a registered charity in United States, based in Takoma Park, MD. It received its IRS tax-exemption ruling in November 2011, 15 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 December 2023, Carerite T F C Inc reported income of $1.2m and spending of $1.2m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $550k to $1.2m (+124%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 36%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Carerite T F C Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within MD. Charities of a similar size with the same main cause include West Virginia Food and Farm Coalition ($1.2m), Power Packs Project ($1.2m) and Home 4 the Heart ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $62k (5.1% of expenses). Other salaries and wages came to $324k. At year end it held assets of $166k against liabilities of $682k, net assets of -$516k. It reported 6 employees.