Gallastar Equine Center Inc

Analysis

Gallastar Equine Center Inc is a registered charity in United States, based in Esmont, VA. It received its IRS tax-exemption ruling in May 1997, 29 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Gallastar Equine Center Inc reported income of $59k and spending of $66k, spending 111% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $59k to $59k (+1.0%), an average of +0.5% a year. The sharpest change came in the year to December 2023, when income rose by 22%. Over the whole period it spent 140% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gallastar Equine Center Inc sits at the 21st percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 23rd percentile within VA. Charities of a similar size with the same main cause include Finding Home Institute ($59k), Elkhorn Food Pantry Inc ($59k) and Retiremens Club of Astoria ($59k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.8% of the total. At year end it held assets of $304k against liabilities of $82k, net assets of $222k.

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.