Averitt Express Associates Charities

Analysis

Averitt Express Associates Charities is a registered charity in United States, based in Cookeville, TN. It received its IRS tax-exemption ruling in April 1988, 38 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Averitt Express Associates Charities reported income of $545k and spending of $1.2m, spending 220% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.7m to $545k (-80%), an average of -33% a year. The sharpest change came in the year to December 2020, when income dropped by 81%. Over the whole period it spent 88% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Averitt Express Associates Charities sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within TN. Charities of a similar size with the same main cause include Tennessee Kidney Foundation Inc ($545k), Norwalk Area United Fund ($546k) and United Way of the Pine Belt Region ($545k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. At year end it held assets of $877k against liabilities of $0, net assets of $877k.

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.