Knothole Foundation Inc

Analysis

Knothole Foundation Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in December 2018, 8 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Knothole Foundation Inc reported income of $1.1m and spending of $924k, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $368k to $1.1m (+211%), an average of +33% a year. The sharpest change came in the year to December 2020, when income rose by 103%. Over the whole period it spent 102% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Knothole Foundation Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within NC. Charities of a similar size with the same main cause include Pony Baseball Inc ($1.1m), Lake Crystal Area Recreation Center Association Inc ($1.1m) and Parker County Miracle League ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 50% of the total. At year end it held assets of $6.5m against liabilities of $2.5m, net assets of $4.0m.