Sequoyah Fund Inc

Analysis

Sequoyah Fund Inc is a registered charity in United States, based in Cherokee, NC. It received its IRS tax-exemption ruling in November 2014, 12 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 December 2023, Sequoyah Fund Inc reported income of $2.6m and spending of $1.7m, leaving 34% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $2.6m (+48%), an average of +10% a year. The sharpest change came in the year to December 2023, when income rose by 163%. Over the whole period it spent 60% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Sequoyah Fund Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within NC. Charities of a similar size with the same main cause include New England Womens Support Inc ($2.6m), Hugh Lane Foundation ($2.6m) and California Association for Microenterprise Opportunity ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $300k (17% of expenses). Other salaries and wages came to $551k. At year end it held assets of $11.5m against liabilities of $1.1m, net assets of $10.4m. It reported 12 employees.