United Way of Gaston County Inc

Analysis

United Way of Gaston County Inc is a registered charity in United States, based in Gastonia, NC. It received its IRS tax-exemption ruling in July 1954, 72 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 June 2023, United Way of Gaston County Inc reported income of $1.3m and spending of $1.4m, spending 105% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $2.0m to $1.3m (-33%), an average of -13% a year. The sharpest change came in the year to June 2021, when income dropped by 29%. Over the whole period it spent 100% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, United Way of Gaston County Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within NC. Charities of a similar size with the same main cause include Louis a Fincke-Anna B Shine Memorial Endowment Fund ($1.3m), Gateway Charitable Foundation Inc ($1.3m) and Task Force Dagger Foundation ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $43k (3.1% of expenses). Other salaries and wages came to $203k. At year end it held assets of $1.9m against liabilities of $629k, net assets of $1.2m. It reported 7 employees.