Pete and Thomas Foundation

Analysis

Pete and Thomas Foundation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 2023, 3 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, Pete and Thomas Foundation reported income of $325k and spending of $26k, leaving 92% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $97k to $325k (+236%), an average of +236% a year. The sharpest change came in the year to December 2023, when income rose by 236%. Over the whole period it spent 26% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Pete and Thomas Foundation sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include Mutual of Omaha Employee Financial Assistance Fund ($325k), Hope Meadows ($325k) and United Marriage Encounter ($325k).

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 $311k against liabilities of $0, net assets of $311k.