The Hub of McDowell Inc

Analysis

The Hub of McDowell Inc is a registered charity in United States, based in Nebo, NC. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, The Hub of McDowell Inc reported income of $1.5m and spending of $1.3m, spending 93% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $753k to $1.5m (+93%), an average of +18% a year. The sharpest change came in the year to July 2022, when income rose by 26%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Hub of McDowell Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within NC. Charities of a similar size with the same main cause include St Stephens Episcopal School ($1.5m), Friends of Foundation Academy Inc ($1.5m) and Twu Local 100-Nycta Training and Upgrading Fund ($1.5m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 3.3% and program service revenue 95% of the total. Other salaries and wages came to $746k. At year end it held assets of $327k against liabilities of $85k, net assets of $243k. It reported 28 employees.