South Bank Partners Inc

Analysis

South Bank Partners Inc is a registered charity in United States, based in Newport, KY. It received its IRS tax-exemption ruling in August 1998, 28 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, South Bank Partners Inc reported income of $389k and spending of $373k, spending 96% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $335k to $389k (+16%), an average of +5.1% a year. The sharpest change came in the year to June 2023, when income rose by 65%. Over the whole period it spent 106% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, South Bank Partners Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 67th percentile within KY. Charities of a similar size with the same main cause include Helps Community Initiatives Inc ($389k), Franklin-Southampton Economic Development Inc ($389k) and Capitol Projects Inc ($388k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 9.4% of the total. Compensation of current officers, directors and key employees was $160k (43% of expenses). At year end it held assets of $999k against liabilities of $6,810, net assets of $992k.