Shoals Area Chamber Foundation Inc

Analysis

Shoals Area Chamber Foundation Inc is a registered charity in United States, based in Florence, AL. It received its IRS tax-exemption ruling in October 1995, 31 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 March 2023, Shoals Area Chamber Foundation Inc reported income of $117k and spending of $94k, leaving 20% of income unspent that year. Across the 4 years on record, from March 2020 to March 2023, income fell from $147k to $117k (-20%), an average of -7.4% a year. The sharpest change came in the year to March 2023, when income dropped by 27%. Over the whole period it spent 77% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Shoals Area Chamber Foundation Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 41st percentile within AL. Charities of a similar size with the same main cause include Minnesota Workers Compensation Symposium ($117k), Glider ($117k) and Making a Change CDC and Housing Services ($117k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 2.0% and program service revenue 71% of the total. At year end it held assets of $222k against liabilities of $0, net assets of $222k.