Ymi Cultural Center Inc

Analysis

Ymi Cultural Center Inc is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in October 1981, 45 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, Ymi Cultural Center Inc reported income of $2.1m and spending of $358k, leaving 83% of income unspent that year. Across the 3 years on record, from June 2018 to June 2023, income grew from $139k to $2.1m (+1380%), an average of +285% a year. The sharpest change came in the year to June 2023, when income rose by 292%. Over the whole period it spent 38% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ymi Cultural Center Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within NC. Charities of a similar size with the same main cause include Jewish Family Service ($2.1m), Mercy House Inc ($2.1m) and Vida Inc ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 1.5% of the total. Other salaries and wages came to $131k. It paid $12k in professional fundraising fees. At year end it held assets of $4.0m against liabilities of $1.7m, net assets of $2.3m. It reported 7 employees.