The Charles Lea Center Foundation Inc

Analysis

The Charles Lea Center Foundation Inc is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in September 1988, 38 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, The Charles Lea Center Foundation Inc reported income of $410k and spending of $261k, leaving 36% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $766k to $410k (-47%), an average of -14% a year. The sharpest change came in the year to June 2021, when income rose by 242%. Over the whole period it spent 42% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Charles Lea Center Foundation Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 72nd percentile within SC. Charities of a similar size with the same main cause include Central Callaway Fire Protection District ($410k), Vesper Boat Club Inc ($410k) and United Way of Northern Ozaukee Inc ($410k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 41% of the total. Compensation of current officers, directors and key employees was $103k (40% of expenses). Other salaries and wages came to $21k. At year end it held assets of $4.5m against liabilities of $397k, net assets of $4.1m. It reported 2 employees.