Cape Charles Rosenwald School Restoration Initiative Inc

Analysis

Cape Charles Rosenwald School Restoration Initiative Inc is a registered charity in United States, based in Cape Charles, VA. It received its IRS tax-exemption ruling in March 2017, 9 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Cape Charles Rosenwald School Restoration Initiative Inc reported income of $173k and spending of $28k, leaving 84% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income fell from $310k to $173k (-44%), an average of -14% a year. The sharpest change came in the year to July 2022, when income rose by 7359%. Over the whole period it spent 4.3% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cape Charles Rosenwald School Restoration Initiative Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 50th percentile within VA. Charities of a similar size with the same main cause include Boulder Potters Guild ($173k), Marshall Depot Inc ($173k) and New Victory Theatre ($173k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 95% of the total. At year end it held assets of $1.5m against liabilities of $1,140, net assets of $1.5m.