Jovenes Inc

Analysis

Jovenes Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in June 1996, 30 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 June 2023, Jovenes Inc reported income of $9.8m and spending of $10.2m, spending 103% of its income. Across the 5 years on record, from September 2019 to June 2023, income grew from $3.6m to $9.8m (+173%), an average of +28% a year. The sharpest change came in the year to September 2020, when income rose by 73%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Jovenes Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within CA. Charities of a similar size with the same main cause include Woodhaven of Livonia ($9.8m), The Homeless Families Foundation ($9.8m) and King David Community Center of Atlanta Inc ($9.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $156k (1.5% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $6.7m against liabilities of $6.6m, net assets of $152k. It reported 54 employees.