The Savings Collaborative

Analysis

The Savings Collaborative is a registered charity in United States, based in Carbondale, CO. It received its IRS tax-exemption ruling in February 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, The Savings Collaborative reported income of $568k and spending of $586k, spending 103% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $1.2m to $568k (-51%), an average of -30% a year. The sharpest change came in the year to December 2022, when income dropped by 63%. Over the whole period it spent 65% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Savings Collaborative sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 70th percentile within CO. Charities of a similar size with the same main cause include Jolet II Incorporated ($568k), Drug Free Clubs of America Inc ($568k) and Jambos Inc ($568k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $132k (23% of expenses). Other salaries and wages came to $73k. It paid $14k in professional fundraising fees. At year end it held assets of $2.4m against liabilities of $1.7m, net assets of $702k. It reported 2 employees.