Tharseo Place Inc

Analysis

Tharseo Place Inc is a registered charity in United States, based in Lufkin, TX. It received its IRS tax-exemption ruling in February 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, Tharseo Place Inc reported income of $155k and spending of $372k, spending 241% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $7,749 to $155k (+1897%), an average of +1897% a year. The sharpest change came in the year to December 2023, when income rose by 1897%. Over the whole period it spent 274% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Tharseo Place Inc sits at the 43rd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 52nd percentile within TX. Charities of a similar size with the same main cause include Utah Police Civilian Association Inc ($155k), Champlain Islands Food Shelf Inc ($155k) and United Ministries of Rochester Inc ($155k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 46% and program service revenue 51% of the total. At year end it held assets of $36k against liabilities of $318k, net assets of -$282k.