Seneca Improvements Corporation

Analysis

Seneca Improvements Corporation is a registered charity in United States, based in Seneca, SC. It received its IRS tax-exemption ruling in August 2017, 9 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Seneca Improvements Corporation reported income of $3.2m and spending of $166k, leaving 95% of income unspent that year. Across the 4 years on record, from June 2019 to June 2023, income grew from $1.3m to $3.2m (+148%), an average of +35% a year. The sharpest change came in the year to June 2023, when income rose by 1334%. Over the whole period it spent 13% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Seneca Improvements Corporation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 92nd percentile within SC. Charities of a similar size with the same main cause include Bear Paw Development Corp of North Montana Hill County Courthouse ($3.2m), Friends of the Child Advocacy Center Inc ($3.2m) and Blue Solutions ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $4.8m against liabilities of $12k, net assets of $4.8m.