Petra Cares

Analysis

Petra Cares is a registered charity in United States, based in Cypress, TX. It received its IRS tax-exemption ruling in November 2022, 4 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Petra Cares reported income of $498k and spending of $270k, leaving 46% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $62k to $498k (+700%), an average of +700% a year. The sharpest change came in the year to December 2023, when income rose by 700%. Over the whole period it spent 48% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Petra Cares sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 74th percentile within TX. Charities of a similar size with the same main cause include Kitty Bungalow ($498k), Friends of the Santa Cruz Public Libraries Inc ($498k) and Canyon Creek Preschool Inc ($498k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $59k. At year end it held assets of $292k against liabilities of $3,089, net assets of $289k. It reported 2 employees.