Smithville Community Inc

Analysis

Smithville Community Inc is a registered charity in United States, based in Cornelius, NC. It received its IRS tax-exemption ruling in June 2015, 11 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, Smithville Community Inc reported income of $1.7m and spending of $586k, leaving 66% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $352k to $1.7m (+396%), an average of +396% a year. The sharpest change came in the year to December 2023, when income rose by 396%. Over the whole period it spent 37% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Smithville Community Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within NC. Charities of a similar size with the same main cause include Erie Regional Chamber and Growth Partnership ($1.7m), Jeff Industries Inc ($1.7m) and Ameritrust CDC ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $189k (32% of expenses). Other salaries and wages came to $83k. At year end it held assets of $1.5m against liabilities of $71k, net assets of $1.4m. It reported 4 employees.