Honestdefi Inc

Analysis

Honestdefi Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 2022, 4 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general 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 December 2022, Honestdefi Inc reported income of $92k and spending of $134k, spending 146% of what it took in. Across the 2 years on record, from December 2021 to December 2022, income fell from $317k to $92k (-71%), an average of -71% a year. The sharpest change came in the year to December 2022, when income dropped by 71%. Over the whole period it spent 74% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Honestdefi Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 34th percentile within NY. Charities of a similar size with the same main cause include United Way of Illinois Inc ($92k), Reggie Puckett Junior Inc ($92k) and Crockett Christmas Store ($92k).

On its Form 990 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.