Cherryville Area Ministries and Thrift Shop

Analysis

Cherryville Area Ministries and Thrift Shop is a registered charity in United States, based in Cherryville, NC. It received its IRS tax-exemption ruling in May 1977, 49 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, Cherryville Area Ministries and Thrift Shop reported income of $363k and spending of $295k, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $321k to $363k (+13%), an average of +3.1% a year. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cherryville Area Ministries and Thrift Shop sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 64th percentile within NC. Charities of a similar size with the same main cause include FBH Caring Ministries Foundation ($363k), Anointed Community Services International Inc ($363k) and Gilmer County Family Resource Network Inc ($363k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 30% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $38k (13% of expenses). Other salaries and wages came to $91k. At year end it held assets of $546k against liabilities of $18k, net assets of $528k. It reported 9 employees.