Wake Forest Area Chamber Foundation

Analysis

Wake Forest Area Chamber Foundation is a registered charity in United States, based in Wake Forest, NC. It received its IRS tax-exemption ruling in February 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 June 2023, Wake Forest Area Chamber Foundation reported income of $275k and spending of $275k, spending 100% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $223k to $275k (+23%), an average of +23% a year. The sharpest change came in the year to June 2023, when income rose by 23%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Wake Forest Area Chamber Foundation 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 58th percentile within NC. Charities of a similar size with the same main cause include Alta Good Deeds Foundation ($275k), Goodwill Solutions Inc ($275k) and Seward Neighborhood Group ($274k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 35% of the total. At year end it held assets of $101k against liabilities of $0, net assets of $101k.