Care Lab

Analysis

Care Lab is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in September 2021, 5 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 June 2023, Care Lab reported income of $422k and spending of $369k, spending 87% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $74k to $422k (+474%), an average of +474% a year. The sharpest change came in the year to June 2023, when income rose by 474%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Care Lab sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 40th percentile within DC. Charities of a similar size with the same main cause include Miriams Promise ($422k), Trinity Irish Dance Company ($422k) and Union Meadows Housing Development Fund Company Inc ($422k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 79% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $212k (58% of expenses). Other salaries and wages came to $49k. At year end it held assets of $93k against liabilities of $40k, net assets of $53k. It reported 3 employees.