United Way of South Central Ky

Analysis

United Way of South Central Ky is a registered charity in United States, based in Somerset, KY. It received its IRS tax-exemption ruling in March 1972, 54 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 December 2023, United Way of South Central Ky reported income of $164k and spending of $197k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $172k to $164k (-4.6%), an average of -1.2% a year. The sharpest change came in the year to December 2023, when income rose by 48%. Over the whole period it spent 120% 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 South Central Ky sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 49th percentile within KY. Charities of a similar size with the same main cause include Second Blessings Thrift Shop Inc ($164k), Bakken BBQ Charities ($164k) and 1st Lieutenant Derek Hines Soldiersassistance Fund Inc ($164k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $42k (21% of expenses). Other salaries and wages came to $20k. At year end it held assets of $426k against liabilities of $283k, net assets of $144k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.