Careresource Hawaii

Analysis

Careresource Hawaii is a registered charity in United States, based in Honolulu, HI. It received its IRS tax-exemption ruling in July 1992, 34 years ago. 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, Careresource Hawaii reported income of $12.9m and spending of $12.5m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $16.7m to $12.9m (-23%), an average of -6.3% a year. The sharpest change came in the year to June 2023, when income dropped by 18%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Careresource Hawaii sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within HI. Charities of a similar size with the same main cause include Young Mens Christian Association of Greater Michiana Inc ($12.9m), Paradigm Indemnity Corporation ($12.9m) and Stand Together Foundation ($12.9m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $352k (2.8% of expenses). Other salaries and wages came to $7.4m. At year end it held assets of $4.5m against liabilities of $1.5m, net assets of $3.0m. It reported 288 employees.