Friends of the Valdese Rec

Analysis

Friends of the Valdese Rec is a registered charity in United States, based in Valdese, NC. It received its IRS tax-exemption ruling in December 2016, 10 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Friends of the Valdese Rec reported income of $267k and spending of $127k, leaving 52% of income unspent that year. Across the 2 years on record, from March 2023 to March 2024, income fell from $427k to $267k (-37%), an average of -37% a year. The sharpest change came in the year to March 2024, when income dropped by 37%. Over the whole period it spent 63% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Friends of the Valdese Rec sits at the 75th percentile: it is larger than about 75% 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 4sa ($267k), The Quakertown Soccer Club Inc ($267k) and Youngstown Ohio Hockey Organization Yoho ($267k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $364k against liabilities of $0, net assets of $364k.