Haywood Vocational Opportunities Inc

Analysis

Haywood Vocational Opportunities Inc is a registered charity in United States, based in Waynesville, NC. It received its IRS tax-exemption ruling in October 1989, 37 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Haywood Vocational Opportunities Inc reported income of $12.6m and spending of $11.4m, spending 90% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $27.6m to $12.6m (-54%), an average of -23% a year. The sharpest change came in the year to June 2023, when income dropped by 38%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Haywood Vocational Opportunities Inc sits at the 97th percentile: it is larger than about 97% 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 Proact Inc ($12.6m), Dorchester Bay Economic Development Corporation ($12.6m) and HWD Harrison Inc ($12.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.7% and program service revenue 8.0% of the total. Compensation of current officers, directors and key employees was $221k (1.9% of expenses). Other salaries and wages came to $6.7m. At year end it held assets of $19.3m against liabilities of $3.7m, net assets of $15.6m. It reported 248 employees.