Downtown Wytheville Incorporated

Analysis

Downtown Wytheville Incorporated is a registered charity in United States, based in Wytheville, VA. It received its IRS tax-exemption ruling in January 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, Downtown Wytheville Incorporated reported income of $276k and spending of $266k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $155k to $276k (+79%), an average of +16% a year. The sharpest change came in the year to December 2022, when income rose by 25%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Wytheville Incorporated sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 60th percentile within VA. Charities of a similar size with the same main cause include Golden Slipper Club Charities ($276k), Rotary District 5170 Foundation ($276k) and Love in Motion Foundation Inc ($276k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 2.3% of the total. Compensation of current officers, directors and key employees was $69k (26% of expenses). Other salaries and wages came to $98k. At year end it held assets of $208k against liabilities of $17k, net assets of $191k. It reported 2 employees.