Yadkin Valley Economic Development District Inc

Analysis

Yadkin Valley Economic Development District Inc is a registered charity in United States, based in Boonville, NC. It received its IRS tax-exemption ruling in March 1966, 60 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Yadkin Valley Economic Development District Inc reported income of $15.3m and spending of $15.0m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.7m to $15.3m (+31%), an average of +6.9% a year. The sharpest change came in the year to June 2022, when income rose by 18%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Yadkin Valley Economic Development District Inc sits at the 96th percentile: it is larger than about 96% 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 Nexus Path Family Healing ($15.3m), Cornerstones Inc ($15.3m) and Refugee Womens Alliance ($15.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 71% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $90k (0.6% of expenses). Other salaries and wages came to $4.5m. At year end it held assets of $6.4m against liabilities of $1.7m, net assets of $4.6m. It reported 219 employees.