Asset Building Coalition of Forsyth County

Analysis

Asset Building Coalition of Forsyth County is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in January 2021, 5 years ago. Its declared purposes cover human services, 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 June 2023, Asset Building Coalition of Forsyth County reported income of $108k and spending of $247k, spending 230% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income fell from $696k to $108k (-85%), an average of -61% a year. The sharpest change came in the year to June 2023, when income rose by 130%. Over the whole period it spent 67% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Asset Building Coalition of Forsyth County 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 39th percentile, and in the 37th percentile within NC. Charities of a similar size with the same main cause include Legacy Give Foundation ($108k), Minnesota Interfaith Coalition on Immigration Icom ($108k) and Noblesville Youth Assistance Inc ($107k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $336k against liabilities of $39k, net assets of $297k.