Cannon Street Young Mens Christian Association

Analysis

Cannon Street Young Mens Christian Association is a registered charity in United States, based in Summerville, SC. It received its IRS tax-exemption ruling in June 1994, 32 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, Cannon Street Young Mens Christian Association reported income of $2.7m and spending of $3.5m, spending 130% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.9m to $2.7m (-31%), an average of -8.8% a year. The sharpest change came in the year to June 2020, when income dropped by 42%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cannon Street Young Mens Christian Association sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 91st percentile within SC. Charities of a similar size with the same main cause include Catholic Charities of Northern Kansas Inc ($2.7m), The Bridge ($2.7m) and Maitri Compassionate Care ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 10% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $327k (9.3% of expenses). Other salaries and wages came to $694k. At year end it held assets of $25.2m against liabilities of $23.2m, net assets of $2.0m. It reported 160 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.