Holston Business Group

Analysis

Holston Business Group is a registered charity in United States, based in Kingsport, TN. It received its IRS tax-exemption ruling in September 2001, 25 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Holston Business Group reported income of $149k and spending of $177k, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $159k to $149k (-6.4%), an average of -1.6% a year. The sharpest change came in the year to December 2021, when income dropped by 27%. Over the whole period it spent 127% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Holston Business Group sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 48th percentile within TN. Charities of a similar size with the same main cause include Laguna Community Foundation ($149k), Naperville Safetytown Commission ($149k) and MP Santa Clara Inc ($149k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.4% and program service revenue 91% of the total. At year end it held assets of $490k against liabilities of $7,703, net assets of $482k.

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.