Salvage Yard Inc

Analysis

Salvage Yard Inc is a registered charity in United States, based in Krum, TX. It received its IRS tax-exemption ruling in November 2020, 6 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Salvage Yard Inc reported income of $456k and spending of $353k, leaving 23% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $355k to $456k (+28%), an average of +28% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 82% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Salvage Yard Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 73rd percentile within TX. Charities of a similar size with the same main cause include Kopernik Society of Broome County Inc ($456k), Loving All Animals Inc ($456k) and Yeshivat Ner Yisroel Inc ($456k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $72k (20% of expenses). Other salaries and wages came to $2,518. At year end it held assets of $229k against liabilities of $0, net assets of $229k.