Out of the Ashes Inc

Analysis

Out of the Ashes Inc is a registered charity in United States, based in Forest City, NC. It received its IRS tax-exemption ruling in October 2019, 7 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, Out of the Ashes Inc reported income of $549k and spending of $522k, spending 95% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $191k to $549k (+187%), an average of +42% a year. The sharpest change came in the year to December 2021, when income rose by 597%. Over the whole period it spent 65% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Out of the Ashes 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 71st percentile within NC. Charities of a similar size with the same main cause include Holbrook Senior Citizens Association ($549k), First Step Day Care Inc ($549k) and The Western Pennsylvania Chapter of the National Hemophilia Foundation ($549k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 2.8% of the total. Other salaries and wages came to $211k. At year end it held assets of $1.2m against liabilities of $250k, net assets of $918k. It reported 15 employees.