Westedge Foundation Inc

Analysis

Westedge Foundation Inc is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in September 2011, 15 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Westedge Foundation Inc reported income of $840k and spending of $1.5m, spending 177% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2,739 to $840k (+30584%), an average of +318% a year. The sharpest change came in the year to June 2021, when income rose by 661219%. Over the whole period it spent 132% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Westedge Foundation Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 81st percentile within SC. Charities of a similar size with the same main cause include Gwscpa Educational Foundation Inc ($840k), Edinboro Market Inc ($841k) and Fort Wayne Construction Trades Inc ($840k).

Compensation of current officers, directors and key employees was $187k (13% of expenses). At year end it held assets of $13.7m against liabilities of $10.8m, net assets of $2.9m. It reported 1 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.