Carecuts Inc

Analysis

Carecuts Inc is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in December 2016, 10 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, Carecuts Inc reported income of $237k and spending of $214k, spending 90% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $187k to $237k (+27%), an average of +27% a year. The sharpest change came in the year to December 2023, when income rose by 27%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Carecuts Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 58th percentile within TN. Charities of a similar size with the same main cause include Meals on Wheels Inc of Tarrant County Endowment Fund ($237k), Basics in Milwaukee Inc ($237k) and Senior Center of South Pearl River County ($237k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $110k against liabilities of $0, net assets of $110k.