Sostento Inc

Analysis

Sostento Inc is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in February 2020, 6 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, Sostento Inc reported income of $1.8m and spending of $2.5m, spending 139% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $514k to $1.8m (+250%), an average of +52% a year. The sharpest change came in the year to December 2022, when income rose by 357%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Sostento Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within NJ. Charities of a similar size with the same main cause include Northern Kentucky Childrens Advocacy Center ($1.8m), Ceo Roundtable on Cancer Inc ($1.8m) and Orange Regional Medical Center Foundation Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 5.3% of the total. Compensation of current officers, directors and key employees was $314k (13% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $586k against liabilities of $126k, net assets of $460k. It reported 17 employees.