Verner

Analysis

Verner is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in February 1998, 28 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 August 2023, Verner reported income of $6.3m and spending of $6.3m, spending 100% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $4.0m to $6.3m (+59%), an average of +12% a year. The sharpest change came in the year to August 2021, when income rose by 57%. Over the whole period it spent 92% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Verner sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NC. Charities of a similar size with the same main cause include Kickstart-International Inc ($6.3m), Northridge Hospital Foundation ($6.3m) and Northeast Montana Stat Air Ambulance Cooperative ($6.3m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 79% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $197k (3.1% of expenses). Other salaries and wages came to $3.6m. At year end it held assets of $5.3m against liabilities of $292k, net assets of $5.0m. It reported 137 employees.