Converge Inc

Analysis

Converge Inc is a registered charity in United States, based in Ridgeland, MS. It received its IRS tax-exemption ruling in December 2019, 7 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Converge Inc reported income of $5.1m and spending of $5.4m, spending 105% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $733k to $5.1m (+601%), an average of +91% a year. The sharpest change came in the year to December 2022, when income rose by 400%. Over the whole period it spent 90% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Converge Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within MS. Charities of a similar size with the same main cause include Community Cancer Foundation Community Cancer Center ($5.1m), Coastal Home Health & Hospice Inc ($5.1m) and Ronald McDonald House West Tennessee & Northeast Arkansas ($5.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.5% of the total. Other salaries and wages came to $962k. At year end it held assets of $2.4m against liabilities of $1.4m, net assets of $993k. It reported 15 employees.