Gaston Together Communites of Excellence

Analysis

Gaston Together Communites of Excellence is a registered charity in United States, based in Gastonia, NC. It received its IRS tax-exemption ruling in November 1998, 28 years ago. Its declared purposes cover community improvement and capacity building, 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 2024, Gaston Together Communites of Excellence reported income of $95k and spending of $186k, spending 195% of what it took in. Across the 6 years on record, from December 2019 to June 2024, income fell from $218k to $95k (-56%), an average of -15% a year. The sharpest change came in the year to June 2024, when income dropped by 45%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Gaston Together Communites of Excellence sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 33rd percentile within NC. Charities of a similar size with the same main cause include St Marys County Community Development Corporation ($95k), Fth-Rochelle Rotary Club ($95k) and Valparaiso Area Apprenticeship Advisory Council Inc ($95k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $69k (37% of expenses). Other salaries and wages came to $50k. At year end it held assets of $166k against liabilities of $792, net assets of $165k. It reported 3 employees.