Worthy Purpose Inc

Analysis

Worthy Purpose Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 2021, 5 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 2022, Worthy Purpose Inc reported income of $184k and spending of $115k, leaving 37% of income unspent that year. Across the 2 years on record, from December 2021 to December 2022, income grew from $99k to $184k (+86%), an average of +86% a year. The sharpest change came in the year to December 2022, when income rose by 86%. Over the whole period it spent 61% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Worthy Purpose Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 49th percentile within NY. Charities of a similar size with the same main cause include Cars IV Inc ($184k), Venice Yacht Club Charitable Foundation ($184k) and The Pearl Group Inc ($184k).

On its Form 990-EZ for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $111k against liabilities of $0, net assets of $111k.