United Way of Henry County & Martinsville Inc

Analysis

United Way of Henry County & Martinsville Inc is a registered charity in United States, based in Martinsville, VA. It received its IRS tax-exemption ruling in September 1964, 62 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, United Way of Henry County & Martinsville Inc reported income of $2.2m and spending of $2.0m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $2.2m (+112%), an average of +21% a year. The sharpest change came in the year to December 2021, when income rose by 74%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, United Way of Henry County & Martinsville Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within VA. Charities of a similar size with the same main cause include Rainbow Homes Inc ($2.2m), First Colony Swim Team Inc ($2.2m) and Malachi House Inc ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $110k (5.5% of expenses). Other salaries and wages came to $89k. At year end it held assets of $2.1m against liabilities of $813k, net assets of $1.3m. It reported 25 employees.