My Cup of Tea Inc

Analysis

My Cup of Tea Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in October 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 2022, My Cup of Tea Inc reported income of $546k and spending of $566k, spending 104% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $358k to $546k (+53%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 33%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, My Cup of Tea Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within TN. Charities of a similar size with the same main cause include The Maisha Project Inc ($546k), Together for Life Northland Inc ($546k) and Kates Kart Inc ($546k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 87% of the total. Other salaries and wages came to $384k. At year end it held assets of $182k against liabilities of $17k, net assets of $165k. It reported 17 employees.