Sails of Freedom Inc

Analysis

Sails of Freedom Inc is a registered charity in United States, based in Staten Island, NY. It received its IRS tax-exemption ruling in May 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Sails of Freedom Inc reported income of $98k and spending of $96k, spending 97% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $37k to $98k (+164%), an average of +164% a year. The sharpest change came in the year to December 2023, when income rose by 164%. Over the whole period it spent 80% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sails of Freedom Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 36th percentile within NY. Charities of a similar size with the same main cause include Sacred Heart Conference SVDP Cullman ($98k), Meals on Wheels - South Shore ($98k) and Hammond for Hope Foundation Inc ($98k).

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 $26k against liabilities of $0, net assets of $26k.