Gaston County Family YMCA

Analysis

Gaston County Family YMCA is a registered charity in United States, based in Gastonia, NC. It received its IRS tax-exemption ruling in July 1976, 50 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, Gaston County Family YMCA reported income of $15.7m and spending of $8.1m, leaving 49% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.2m to $15.7m (+71%), an average of +14% a year. The sharpest change came in the year to December 2023, when income rose by 72%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Gaston County Family YMCA sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include North American Securities Administrators Association Inc ($15.7m), MRM Property and Liability TR Inc ($15.7m) and Brockport Auxilary Service Corporation ($15.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $277k (3.4% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $35.3m against liabilities of $1.2m, net assets of $34.2m. It reported 479 employees.