Greater Winston Salem Chamber of Commerce Foundation Inc

Analysis

Greater Winston Salem Chamber of Commerce Foundation Inc is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in May 1976, 50 years ago. 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, Greater Winston Salem Chamber of Commerce Foundation Inc reported income of $60k and spending of $400k, spending 664% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $1.8m to $60k (-97%), an average of -68% a year. The sharpest change came in the year to December 2022, when income rose by 240%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Greater Winston Salem Chamber of Commerce Foundation Inc sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 22nd percentile within NC. Charities of a similar size with the same main cause include Alternatives to Violence Project USA Inc ($60k), Little League Baseball Inc ($60k) and PTA Mississippi Congress ($60k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $58k. At year end it held assets of $755k against liabilities of $451k, net assets of $304k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.