Veteran Rites Inc

Analysis

Veteran Rites Inc is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in February 2020, 6 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Veteran Rites Inc reported income of $457k and spending of $378k, spending 83% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $247k to $457k (+85%), an average of +36% a year. The sharpest change came in the year to December 2023, when income rose by 41%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Veteran Rites Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 67th percentile within WA. Charities of a similar size with the same main cause include Bread of Life ($457k), Legacy Ministries ($457k) and Its Going to Be Ok Inc ($457k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $68k (18% of expenses). At year end it held assets of $219k against liabilities of $3,454, net assets of $216k. It reported 1 employees.