Wine Spectator California Scholarship Foundation

Analysis

Wine Spectator California Scholarship Foundation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 1984, 42 years ago. 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 June 2023, Wine Spectator California Scholarship Foundation reported income of $5.4m and spending of $3.6m, leaving 32% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.0m to $5.4m (+6.8%), an average of +1.6% a year. The sharpest change came in the year to June 2023, when income rose by 96%. Over the whole period it spent 66% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wine Spectator California Scholarship Foundation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include KCCDD Inc ($5.4m), Selfhelp Community Services Foundation Inc ($5.4m) and New Haven Care Center Inc ($5.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.3% and program service revenue 95% of the total. Other salaries and wages came to $842k. At year end it held assets of $34.4m against liabilities of $3.4m, net assets of $31.0m.