Carebag Inc

Analysis

Carebag Inc is a registered charity in United States, based in Port Saint Lucie, FL. It received its IRS tax-exemption ruling in January 2017, 9 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, Carebag Inc reported income of $166k and spending of $164k, spending 99% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $138k to $166k (+20%), an average of +20% a year. The sharpest change came in the year to December 2023, when income rose by 20%. Over the whole period it spent 86% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Carebag Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 53rd percentile within FL. Charities of a similar size with the same main cause include Foundation for Family and Community Healing ($166k), Son Raise Missionary Services ($166k) and Lookout Mountain Casa Inc ($166k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $87k against liabilities of $7,725, net assets of $79k.