United Way of the Southern Tier Inc

Analysis

United Way of the Southern Tier Inc is a registered charity in United States, based in Corning, NY. It received its IRS tax-exemption ruling in July 1995, 31 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 2024, United Way of the Southern Tier Inc reported income of $3.9m and spending of $3.8m, spending 95% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $4.5m to $3.9m (-13%), an average of -3.5% a year. The sharpest change came in the year to June 2023, when income dropped by 17%. Over the whole period it spent 96% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, United Way of the Southern Tier Inc 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 91st percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include California State University Foundation ($3.9m), Tikun Olam Foundation ($4.0m) and Washington Regional Association of Grantmakers ($3.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 88% of the total. Compensation of current officers, directors and key employees was $138k (3.7% of expenses). Other salaries and wages came to $324k. At year end it held assets of $6.5m against liabilities of $3.5m, net assets of $3.1m. It reported 5 employees.