United Way of Iredell County Inc

Analysis

United Way of Iredell County Inc is a registered charity in United States, based in Statesville, NC. It received its IRS tax-exemption ruling in June 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 Iredell County Inc reported income of $947k and spending of $1.2m, spending 127% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $2.3m to $947k (-59%), an average of -26% a year. The sharpest change came in the year to June 2022, when income dropped by 63%. Over the whole period it spent 77% 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 Iredell County Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within NC. Charities of a similar size with the same main cause include Out Maine ($947k), Hypertherm Hope Foundation Inc ($948k) and Community Foundation of Dunn County Inc ($946k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $85k (7.1% of expenses). Other salaries and wages came to $149k. At year end it held assets of $4.0m against liabilities of $513k, net assets of $3.4m. It reported 7 employees.