Innovative Care Solutions Inc

Analysis

Innovative Care Solutions Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in June 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, Innovative Care Solutions Inc reported income of $584k and spending of $601k, spending 103% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $302k to $584k (+94%), an average of +25% a year. The sharpest change came in the year to December 2022, when income rose by 68%. Over the whole period it spent 109% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Innovative Care Solutions Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include Antonine Sisters Adult Day Care Inc ($584k), Joyful Journeys Community Enrichment ($584k) and Virginia Bleeding Disorders Foundation ($584k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $255k (43% of expenses). At year end it held assets of $3,757 against liabilities of $178k, net assets of -$174k. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.