Fuquay Varina Downtown Association

Analysis

Fuquay Varina Downtown Association is a registered charity in United States, based in Fuquay Varina, NC. It received its IRS tax-exemption ruling in March 2000, 26 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 2023, Fuquay Varina Downtown Association reported income of $160k and spending of $144k, spending 90% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $215k to $160k (-26%), an average of -9.4% a year. The sharpest change came in the year to June 2021, when income dropped by 49%. Over the whole period it spent 82% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fuquay Varina Downtown Association sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 46th percentile within NC. Charities of a similar size with the same main cause include Phantoms Charities ($160k), The Greater Beloit Economic Development Corporation ($160k) and Herkimer Next Inc ($160k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 50% and program service revenue 49% of the total. Other salaries and wages came to $51k. At year end it held assets of $220k against liabilities of $32k, net assets of $188k. It reported 3 employees.