Velvet Ashes Incorporated

Analysis

Velvet Ashes Incorporated is a registered charity in United States, based in Newtown SQ, PA. It received its IRS tax-exemption ruling in October 2016, 10 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Velvet Ashes Incorporated reported income of $167k and spending of $203k, spending 122% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $154k to $167k (+8.7%), an average of +8.7% a year. Over the whole period it spent 118% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Velvet Ashes Incorporated sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 47th percentile within PA. Charities of a similar size with the same main cause include The Presbyterian Association of Homes and Services for the Aging ($167k), Everyday Mission Trip Evangelism Organization ($167k) and Extend International ($167k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 44% of the total. At year end it held assets of $83k against liabilities of $2,163, net assets of $81k.