Financial Pathways of the Piedmont Inc

Analysis

Financial Pathways of the Piedmont Inc is a registered charity in United States, based in Winstonsalem, NC. It received its IRS tax-exemption ruling in April 1973, 53 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, Financial Pathways of the Piedmont Inc reported income of $2.0m and spending of $1.6m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.2m to $2.0m (+63%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 18%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Financial Pathways of the Piedmont Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within NC. Charities of a similar size with the same main cause include Benchmarks ($2.0m), Lifebuilders ($2.0m) and Williamsburg House of Mercy Inc ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $118k (7.4% of expenses). Other salaries and wages came to $731k. At year end it held assets of $2.6m against liabilities of $1.7m, net assets of $904k. It reported 29 employees.