Charityvest Inc

Analysis

Charityvest Inc is a registered charity in United States, based in Fairfield, CT. It received its IRS tax-exemption ruling in December 2016, 10 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 2022, Charityvest Inc reported income of $33.0m and spending of $20.1m, leaving 39% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.0m to $33.0m (+3116%), an average of +218% a year. The sharpest change came in the year to December 2020, when income rose by 690%. Over the whole period it spent 58% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Charityvest Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CT. Charities of a similar size with the same main cause include Givers Legacy Foundation Inc ($32.9m), Jefferson Scholars Foundation ($33.2m) and United Way of Summit and Medina ($32.9m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 146% of the total. At year end it held assets of $28.7m against liabilities of $7,486, net assets of $28.7m.