Neartown Inc

Analysis

Neartown Inc is a registered charity in United States, based in Kirksey, KY. It received its IRS tax-exemption ruling in March 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Neartown Inc reported income of $1.7m and spending of $1.6m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $233k to $1.7m (+616%), an average of +64% a year. The sharpest change came in the year to December 2021, when income rose by 162%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Neartown Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within KY. Charities of a similar size with the same main cause include Operation Nightwatch ($1.7m), Father Chucks Challenge ($1.7m) and Niagara Hospice Alliance Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.5% and program service revenue 95% of the total. Other salaries and wages came to $1.0m. At year end it held assets of $947k against liabilities of $668k, net assets of $279k. It reported 36 employees.