Forget Me Knot Children and Youth Services

Analysis

Forget Me Knot Children and Youth Services is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in May 2022, 4 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, Forget Me Knot Children and Youth Services reported income of $1.5m and spending of $1.6m, spending 105% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $898k to $1.5m (+72%), an average of +72% a year. The sharpest change came in the year to December 2023, when income rose by 72%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Forget Me Knot Children and Youth Services sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within PA. Charities of a similar size with the same main cause include Real Change Homeless Empowerment Project ($1.5m), Anns Heart ($1.5m) and Tenants Together ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.1% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $385k (24% of expenses). Other salaries and wages came to $250k. It paid $2,500 in professional fundraising fees. At year end it held assets of $2.3m against liabilities of $1.7m, net assets of $629k. It reported 24 employees.