Fountains of the Needy Inc

Analysis

Fountains of the Needy Inc is a registered charity in United States, based in Queens VLG, NY. It received its IRS tax-exemption ruling in January 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, Fountains of the Needy Inc reported income of $58k and spending of $57k, spending 98% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $59k to $58k (-1.7%), an average of -1.7% a year. Over the whole period it spent 59% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fountains of the Needy Inc sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 24th percentile within NY. Charities of a similar size with the same main cause include Alegria Foundation ($58k), South Dakota Cap Directors Association Inc ($58k) and Royal Harvest Resources ($58k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $58k against liabilities of $57k, net assets of $1,025.