Elevate50 Hendersonville

Analysis

Elevate50 Hendersonville is a registered charity in United States, based in Hendersonvlle, TN. It received its IRS tax-exemption ruling in August 1989, 37 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Elevate50 Hendersonville reported income of $482k and spending of $201k, leaving 58% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $160k to $482k (+201%), an average of +32% a year. The sharpest change came in the year to June 2023, when income rose by 225%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Elevate50 Hendersonville sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within TN. Charities of a similar size with the same main cause include Lasa Foundation Inc ($482k), Pantry of Oxford and Lafayette County ($482k) and Helping Hands of Middle & West Tennessee ($482k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 3.1% of the total. Other salaries and wages came to $94k. At year end it held assets of $412k against liabilities of $25k, net assets of $387k. It reported 2 employees.