United Way of Florence County

Analysis

United Way of Florence County is a registered charity in United States, based in Florence, SC. It received its IRS tax-exemption ruling in April 1956, 70 years ago. 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, United Way of Florence County reported income of $1.3m and spending of $1.1m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $1.3m (+24%), an average of +5.5% a year. The sharpest change came in the year to June 2022, when income rose by 40%. Over the whole period it spent 111% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, United Way of Florence County sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 85th percentile within SC. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($1.3m), Young Mens Christian Association ($1.3m) and Cooperative Development Fund of CDS ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $80k (7.1% of expenses). Other salaries and wages came to $108k. At year end it held assets of $3.4m against liabilities of $4,101, net assets of $3.4m. It reported 4 employees.