The Well-Food and Clothing Source

Analysis

The Well-Food and Clothing Source is a registered charity in United States, based in Marion, IA. It received its IRS tax-exemption ruling in October 2022, 4 years ago. Its declared purposes cover food, agriculture and nutrition, 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 Well-Food and Clothing Source reported income of $489k and spending of $495k, spending 101% of its income. Across the 4 years on record, from December 2020 to December 2023, income fell from $502k to $489k (-2.5%), an average of -0.8% a year. The sharpest change came in the year to December 2021, when income rose by 70%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Well-Food and Clothing Source sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 72nd percentile within IA. Charities of a similar size with the same main cause include Inspired Hearts and Hands Inc ($489k), Budget and Fin MGMT Asst ($489k) and Clubs Thrift Store Inc ($489k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $42k against liabilities of $0, net assets of $42k.