Genesee Valley Quilt Club Inc

Analysis

Genesee Valley Quilt Club Inc is a registered charity in United States, based in Penfield, NY. It received its IRS tax-exemption ruling in March 2001, 25 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2024, Genesee Valley Quilt Club Inc reported income of $54k and spending of $40k, leaving 26% of income unspent that year. Across the 2 years on record, from August 2023 to August 2024, income grew from $38k to $54k (+40%), an average of +40% a year. The sharpest change came in the year to August 2024, when income rose by 40%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Genesee Valley Quilt Club Inc sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 23rd percentile within NY. Charities of a similar size with the same main cause include Gainesville Industrial and Community Development Authority ($54k), The Hudson Valley Center for Innovation Inc ($54k) and National Steering Comm of the Assoc for the Imprvmt of Minorits in Irs ($54k).

On its Form 990-EZ for the period ending August 2024, revenue came from contributions and grants 2.8% and program service revenue 12% of the total. At year end it held assets of $71k against liabilities of $0, net assets of $71k.