Cool Spring Downtown District Inc

Analysis

Cool Spring Downtown District Inc is a registered charity in United States, based in Fayetteville, NC. It received its IRS tax-exemption ruling in September 2017, 9 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 2024, Cool Spring Downtown District Inc reported income of $897k and spending of $941k, spending 105% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $438k to $897k (+105%), an average of +20% a year. The sharpest change came in the year to June 2021, when income rose by 46%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cool Spring Downtown District Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within NC. Charities of a similar size with the same main cause include Cultural Island Travel Inc ($897k), Energy Education Foundation ($897k) and Ethio 360 Media Inc ($896k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 76% and program service revenue 22% of the total. Other salaries and wages came to $285k. At year end it held assets of $286k against liabilities of $1,895, net assets of $285k. It reported 8 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.