Asheville Area Chamber of Commerce Community Betterment Foundation

Analysis

Asheville Area Chamber of Commerce Community Betterment Foundation is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in April 1992, 34 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Asheville Area Chamber of Commerce Community Betterment Foundation reported income of $3.8m and spending of $4.0m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $526k to $3.8m (+620%), an average of +64% a year. The sharpest change came in the year to June 2021, when income rose by 1172%. Over the whole period it spent 96% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Asheville Area Chamber of Commerce Community Betterment Foundation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within NC. Charities of a similar size with the same main cause include United Way of Greater Union County Inc ($3.8m), Innovia Ignite Foundation ($3.8m) and Birmingham Jewish Federation ($3.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 83% and program service revenue 15% of the total. At year end it held assets of $2.2m against liabilities of $1.0m, net assets of $1.1m.