Honestly Inc

Analysis

Honestly Inc is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in August 2016, 10 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 June 2023, Honestly Inc reported income of $1.9m and spending of $2.1m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $568k to $1.9m (+232%), an average of +35% a year. The sharpest change came in the year to June 2021, when income rose by 209%. Over the whole period it spent 98% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Honestly Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within OK. Charities of a similar size with the same main cause include The Christine Avery Learning Center Inc ($1.9m), Elevate Oregon ($1.9m) and Foundation for Free Enterprise Education ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $134k (6.5% of expenses). Other salaries and wages came to $725k. At year end it held assets of $895k against liabilities of $154k, net assets of $741k. It reported 14 employees.