Spirit of South Carolina Inc

Analysis

Spirit of South Carolina Inc is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in September 2016, 10 years ago. 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 December 2022, Spirit of South Carolina Inc reported income of $193k and spending of $183k, spending 95% of its income. Across the 4 years on record, from December 2019 to December 2022, income fell from $427k to $193k (-55%), an average of -23% a year. The sharpest change came in the year to December 2022, when income rose by 205%. Over the whole period it spent 143% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Spirit of South Carolina Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 58th percentile within SC. Charities of a similar size with the same main cause include Magic Moments Inc ($193k), Franklin County United Volleyball Club ($193k) and Forward Fresno Foundation Inc ($193k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $9,968 (5.4% of expenses). At year end it held assets of $2.9m against liabilities of $0, net assets of $2.9m.