Let Grow Inc

Analysis

Let Grow Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 2018, 8 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, Let Grow Inc reported income of $1.1m and spending of $763k, leaving 31% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $654k to $1.1m (+68%), an average of +14% a year. The sharpest change came in the year to December 2020, when income rose by 128%. 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, Let Grow Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Consumer Credit of Des Moines ($1.1m), Made in the Streets ($1.1m) and Susanna Wesley Family Learning Center Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 3.3% of the total. Compensation of current officers, directors and key employees was $364k (48% of expenses). Other salaries and wages came to $45k. At year end it held assets of $1.1m against liabilities of $5,000, net assets of $1.1m. It reported 3 employees.