Summerville Dream Inc

Analysis

Summerville Dream Inc is a registered charity in United States, based in Summerville, SC. It received its IRS tax-exemption ruling in August 2012, 14 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Summerville Dream Inc reported income of $354k and spending of $298k, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $406k to $354k (-13%), an average of -3.4% a year. The sharpest change came in the year to December 2023, when income rose by 80%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Summerville Dream Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 69th percentile within SC. Charities of a similar size with the same main cause include Superior Public Museums ($354k), Italian American Heritage Foundation Inc ($354k) and Northeast Iowa School of Music ($354k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $64k (22% of expenses). Other salaries and wages came to $56k. At year end it held assets of $100k against liabilities of $4,327, net assets of $96k. It reported 9 employees.