Chesapeake Bay Wine Classic Foundation

Analysis

Chesapeake Bay Wine Classic Foundation is a registered charity in United States, based in Virginia BCH, VA. It received its IRS tax-exemption ruling in March 1998, 28 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Chesapeake Bay Wine Classic Foundation reported income of $1.6m and spending of $1.5m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $491k to $1.6m (+220%), an average of +34% a year. The sharpest change came in the year to June 2022, when income rose by 403%. Over the whole period it spent 94% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Chesapeake Bay Wine Classic Foundation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within VA. Charities of a similar size with the same main cause include Artists for Community Transformation Intl Inc ($1.6m), Friends of the League Foundation ($1.6m) and William H Davis & Dorothy M Davis & William C Davis Foundation ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 73% of the total. At year end it held assets of $404k against liabilities of $0, net assets of $404k.