United Way of Forsyth County Inc

Analysis

United Way of Forsyth County Inc is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in February 1974, 52 years ago. 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 2023, United Way of Forsyth County Inc reported income of $11.1m and spending of $11.8m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $13.9m to $11.1m (-20%), an average of -5.4% a year. The sharpest change came in the year to June 2023, when income dropped by 18%. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, United Way of Forsyth County Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Arc of Madison County Inc ($11.1m), Presbyterian Homes of Port Charlotte Inc ($11.1m) and Lutheran Home - Forsyth County Inc ($11.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $587k (5.0% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $6.4m against liabilities of $9.8m, net assets of -$3.5m. It reported 54 employees.