Salt Block Foundation Inc

Analysis

Salt Block Foundation Inc is a registered charity in United States, based in Hickory, NC. It received its IRS tax-exemption ruling in June 1983, 43 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 2024, Salt Block Foundation Inc reported income of $849k and spending of $1.0m, spending 122% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $760k to $849k (+12%), an average of +2.8% a year. The sharpest change came in the year to June 2022, when income rose by 25%. Over the whole period it spent 120% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Salt Block Foundation Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within NC. Charities of a similar size with the same main cause include Arbutus Foundation Inc ($849k), Maritime Rhode Island Inc ($850k) and The Little Orchestra Society- Orpheon Inc ($849k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 42% and program service revenue 22% of the total. Other salaries and wages came to $157k. At year end it held assets of $13.9m against liabilities of $235k, net assets of $13.6m. It reported 10 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.