The Asheville City Schools Foundation

Analysis

The Asheville City Schools Foundation is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in October 1989, 37 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 Asheville City Schools Foundation reported income of $1.3m and spending of $1.3m, spending 94% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.1m to $1.3m (+20%), an average of +6.4% a year. The sharpest change came in the year to June 2023, when income rose by 72%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Asheville City Schools Foundation 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 83rd percentile within NC. Charities of a similar size with the same main cause include Riverbend Christian School Inc ($1.3m), Southeastern Regional Action Council on Substance Abuse Inc ($1.3m) and Vajrapani Institute for Wisdom Culture ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 2.8% of the total. Compensation of current officers, directors and key employees was $71k (5.6% of expenses). Other salaries and wages came to $309k. At year end it held assets of $2.9m against liabilities of $150k, net assets of $2.8m. It reported 12 employees.