Friends of Sequoyah

Analysis

Friends of Sequoyah is a registered charity in United States, based in Vonore, TN. It received its IRS tax-exemption ruling in May 2014, 12 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Friends of Sequoyah reported income of $315k and spending of $494k, spending 157% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $312k to $315k (+0.8%), an average of +0.2% a year. Over the whole period it spent 154% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of Sequoyah sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 64th percentile within TN. Charities of a similar size with the same main cause include Whittier Historical Society ($315k), Cape Ann Art Haven ($315k) and Strawberry Lane Foundation Inc ($315k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $66k (13% of expenses). Other salaries and wages came to $76k. At year end it held assets of $2.5m against liabilities of $1,974, net assets of $2.5m. It reported 11 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.