Cakeable Charlotte Inc

Analysis

Cakeable Charlotte Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in September 2019, 7 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 2023, Cakeable Charlotte Inc reported income of $563k and spending of $221k, leaving 61% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $128k to $563k (+339%), an average of +339% a year. The sharpest change came in the year to December 2023, when income rose by 339%. Over the whole period it spent 41% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cakeable Charlotte Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within NC. Charities of a similar size with the same main cause include Pcams Holdings ($563k), Ctam Educational Foundation ($563k) and Danville Neighborhood Development Corporation ($562k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. Other salaries and wages came to $98k. At year end it held assets of $451k against liabilities of -$453, net assets of $452k. It reported 23 employees.