The Utopian Seed Project Inc

Analysis

The Utopian Seed Project Inc is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in July 2020, 6 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. 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, The Utopian Seed Project Inc reported income of $236k and spending of $233k, spending 99% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $282k to $236k (-16%), an average of -16% a year. The sharpest change came in the year to December 2023, when income dropped by 16%. Over the whole period it spent 79% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Utopian Seed Project Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 55th percentile within NC. Charities of a similar size with the same main cause include Spectrum Support Services ($236k), Thompson Social Services Inc ($236k) and Landons Legacy Foundation ($236k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 7.6% of the total. Compensation of current officers, directors and key employees was $64k (28% of expenses). Other salaries and wages came to $46k. At year end it held assets of $0 against liabilities of $0, net assets of $0. It reported 5 employees.