Woolly Worm Festival of Banner Elk NC

Analysis

Woolly Worm Festival of Banner Elk NC is a registered charity in United States, based in Banner Elk, NC. It received its IRS tax-exemption ruling in June 2012, 14 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Woolly Worm Festival of Banner Elk NC reported income of $191k and spending of $138k, leaving 28% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $158k to $191k (+21%), an average of +22% a year. The sharpest change came in the year to December 2023, when income rose by 21%. Over the whole period it spent 97% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Woolly Worm Festival of Banner Elk NC sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 50th percentile within NC. Charities of a similar size with the same main cause include Duxbury Youth Soccer Inc ($191k), The Fund for Covington Inc ($191k) and Campbell Soccer Club Inc ($191k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 5.2% of the total. At year end it held assets of $141k against liabilities of $0, net assets of $141k.