United Way of Greater Knoxville Inc

Analysis

United Way of Greater Knoxville Inc is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in June 1960, 66 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 March 2024, United Way of Greater Knoxville Inc reported income of $14.6m and spending of $17.9m, spending 123% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $13.3m to $14.6m (+9.7%), an average of +2.3% a year. The sharpest change came in the year to March 2021, when income rose by 61%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, United Way of Greater Knoxville Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within TN. Charities of a similar size with the same main cause include Eden Housing Management Inc ($14.6m), Mother Angeline McCrory Manor Inc ($14.6m) and Ccarc Inc ($14.5m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 96% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $396k (2.2% of expenses). Other salaries and wages came to $3.6m. At year end it held assets of $34.2m against liabilities of $2.4m, net assets of $31.8m. It reported 77 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.