Wallace State Community College Future Foundation Inc

Analysis

Wallace State Community College Future Foundation Inc is a registered charity in United States, based in Hanceville, AL. It received its IRS tax-exemption ruling in November 2004, 22 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Wallace State Community College Future Foundation Inc reported income of $1.1m and spending of $789k, leaving 29% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $903k to $1.1m (+24%), an average of +4.4% a year. The sharpest change came in the year to June 2022, when income rose by 161%. Over the whole period it spent 52% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wallace State Community College Future Foundation Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 84th percentile within AL. Charities of a similar size with the same main cause include Oil Region Library Association ($1.1m), Apple Valley Christian Academy ($1.1m) and Seattle Institute of East Asian Medicine ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 74% of the total. At year end it held assets of $8.2m against liabilities of $0, net assets of $8.2m.