Cars for Charity Inc

Analysis

Cars for Charity Inc is a registered charity in United States, based in Golden, CO. It received its IRS tax-exemption ruling in February 1999, 27 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2022, Cars for Charity Inc reported income of $4.8m and spending of $4.8m, spending 100% of its income. Across the 4 years on record, from June 2019 to June 2022, income grew from $743k to $4.8m (+545%), an average of +86% a year. The sharpest change came in the year to June 2020, when income rose by 173%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cars for Charity Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within CO. Charities of a similar size with the same main cause include Portage Private Industry Council Inc ($4.8m), Self-Help Community Development Corp ($4.8m) and Careers Through Culinary Arts Program Inc ($4.8m).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $69k (1.4% of expenses). At year end it held assets of $17k against liabilities of $3,272, net assets of $14k. It reported 2 employees.