Climb Fund

Analysis

Climb Fund is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in June 2019, 7 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Climb Fund reported income of $5.1m and spending of $2.1m, leaving 60% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.8m to $5.1m (+183%), an average of +30% a year. The sharpest change came in the year to September 2021, when income rose by 95%. Over the whole period it spent 109% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Climb Fund sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within SC. Charities of a similar size with the same main cause include Childrens Charity ($5.1m), Washington Initiative for Supported Employment ($5.1m) and Bay Area Workforce Development Board Inc ($5.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 66% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $166k (8.1% of expenses). Other salaries and wages came to $988k. At year end it held assets of $35.5m against liabilities of $11.0m, net assets of $24.6m. It reported 30 employees.