Evernorth

Analysis

Evernorth is a registered charity in United States, based in Burlington, VT. It received its IRS tax-exemption ruling in August 2021, 5 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Evernorth reported income of $8.9m and spending of $9.1m, spending 102% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $8.2m to $8.9m (+8.9%), an average of +4.3% a year. Over the whole period it spent 94% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Evernorth sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within VT. Charities of a similar size with the same main cause include Partners for Community Development Inc ($8.9m), Habitat for Humanity International Inc ($9.0m) and The Next Door ($8.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.3% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $642k (7.0% of expenses). Other salaries and wages came to $4.6m. At year end it held assets of $25.2m against liabilities of $8.5m, net assets of $16.7m. It reported 56 employees.