Finance of America Cares

Analysis

Finance of America Cares is a registered charity in United States, based in Irving, TX. It received its IRS tax-exemption ruling in November 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, Finance of America Cares reported income of $552k and spending of $434k, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $335k to $552k (+65%), an average of +13% a year. The sharpest change came in the year to December 2020, when income rose by 161%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Finance of America Cares 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 76th percentile within TX. Charities of a similar size with the same main cause include To Our Shores Inc ($552k), Nawlee Foundation Inc ($552k) and Asians and Pacific Americans in Higher Education ($552k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $596k against liabilities of $0, net assets of $596k.