Renova Inc

Analysis

Renova Inc is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in July 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Renova Inc reported income of $1.9m and spending of $1.9m, spending 102% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $1.2m to $1.9m (+62%), an average of +62% a year. The sharpest change came in the year to December 2023, when income rose by 62%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Renova Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within CA. Charities of a similar size with the same main cause include Global Communities of Hope ($1.9m), Uplift Solutions Inc ($1.9m) and Family Connections of Northeast Ohio ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $486k (25% of expenses). Other salaries and wages came to $663k. At year end it held assets of $81k against liabilities of $18k, net assets of $63k. It reported 15 employees.