Flywheel Foundation

Analysis

Flywheel Foundation is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in December 2015, 11 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Flywheel Foundation reported income of $499k and spending of $424k, spending 85% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $263k to $499k (+90%), an average of +38% a year. The sharpest change came in the year to December 2023, when income rose by 55%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Flywheel Foundation sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within NC. Charities of a similar size with the same main cause include Casa of Marion County Inc ($499k), Age Well Arrowhead Inc ($499k) and Nutrition Coalition ($499k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $67k (16% of expenses). Other salaries and wages came to $35k. At year end it held assets of $313k against liabilities of $100k, net assets of $214k.