Forsyth Economic Ventures Inc

Analysis

Forsyth Economic Ventures Inc is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in October 1993, 33 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Forsyth Economic Ventures Inc reported income of $1.7m and spending of $1.5m, spending 91% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.2m to $1.7m (+40%), an average of +8.8% a year. The sharpest change came in the year to September 2021, when income rose by 26%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Forsyth Economic Ventures 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 84th percentile, and in the 85th percentile within NC. Charities of a similar size with the same main cause include Sa Life Academy Inc ($1.7m), Enterprise North Inc ($1.7m) and Scripture Union ($1.7m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 86% of the total. Other salaries and wages came to $64k. At year end it held assets of $7.1m against liabilities of $5.6m, net assets of $1.5m.