Watkins Glen Promotions Inc

Analysis

Watkins Glen Promotions Inc is a registered charity in United States, based in Watkins Glen, NY. It received its IRS tax-exemption ruling in January 1995, 31 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Watkins Glen Promotions Inc reported income of $246k and spending of $224k, spending 91% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $185k to $246k (+33%), an average of +15% a year. The sharpest change came in the year to December 2023, when income rose by 25%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Watkins Glen Promotions Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 55th percentile within NY. Charities of a similar size with the same main cause include Exceptional Bean ($246k), South Texans Property Rightsassociation Inc ($246k) and Kellis Cookies for Goodness Bakes Inc ($246k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $52k (23% of expenses). Other salaries and wages came to $24k. At year end it held assets of $182k against liabilities of $41k, net assets of $140k. It reported 4 employees.