Waccamaw Community Foundation Inc

Analysis

Waccamaw Community Foundation Inc is a registered charity in United States, based in Murrells Inlt, SC. It received its IRS tax-exemption ruling in February 2015, 11 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Waccamaw Community Foundation Inc reported income of $6.5m and spending of $4.2m, leaving 37% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.9m to $6.5m (+125%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 173%. Over the whole period it spent 120% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Waccamaw Community Foundation Inc 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 95th percentile within SC. Charities of a similar size with the same main cause include City of Muskogee Foundation ($6.5m), Bestwork Industries for the Blind Inc ($6.5m) and Rural Enterprises of Oklahoma Inc ($6.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 7.3% of the total. Other salaries and wages came to $293k. At year end it held assets of $33.3m against liabilities of $98k, net assets of $33.2m.