Wagilabs

Analysis

Wagilabs is a registered charity in United States, based in Charlottesville, VA. It received its IRS tax-exemption ruling in August 2017, 9 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 2024, Wagilabs reported income of $327k and spending of $26k, leaving 92% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income grew from $53k to $327k (+520%), an average of +520% a year. The sharpest change came in the year to June 2024, when income rose by 520%. Over the whole period it spent 7.7% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Wagilabs sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 63rd percentile within VA. Charities of a similar size with the same main cause include Elevate New York ($327k), Majella House Inc ($327k) and Activediscovery Club ($326k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 85% and program service revenue 9.6% of the total. At year end it held assets of $601k against liabilities of $0, net assets of $601k.