Pace Enterprises of West Virginia Inc

Analysis

Pace Enterprises of West Virginia Inc is a registered charity in United States, based in Morgantown, WV. It received its IRS tax-exemption ruling in August 1980, 46 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 2023, Pace Enterprises of West Virginia Inc reported income of $8.6m and spending of $8.4m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.1m to $8.6m (+21%), an average of +5.0% a year. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Pace Enterprises of West Virginia Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within WV. Charities of a similar size with the same main cause include Ser-Jobs for Progress of the Texas Gulf Coast Inc ($8.6m), Delta Community Action Association Inc ($8.6m) and Opportunity House Inc ($8.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.4% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $156k (1.9% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $6.3m against liabilities of $1.4m, net assets of $4.9m. It reported 285 employees.