Wabe Foundation Inc

Analysis

Wabe Foundation Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in June 2022, 4 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 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, Wabe Foundation Inc reported income of $77k and spending of $453k, spending 584% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $86k to $77k (-10%), an average of -3.6% a year. The sharpest change came in the year to June 2022, when income rose by 40%. Over the whole period it spent 281% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Wabe Foundation Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 31st percentile within GA. Charities of a similar size with the same main cause include Millburn Short Fourth of July Committee Inc ($77k), Savannah Childrens Choir Inc ($77k) and Blackbeards Crew Inc ($77k).

At year end it held assets of $2.8m against liabilities of $71k, net assets of $2.7m.

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.