Wellsville Community Foundation

Analysis

Wellsville Community Foundation is a registered charity in United States, based in Wellsville, OH. It received its IRS tax-exemption ruling in March 2021, 5 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Wellsville Community Foundation reported income of $130k and spending of $59k, leaving 55% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $622k to $130k (-79%), an average of -54% a year. The sharpest change came in the year to December 2022, when income dropped by 82%. Over the whole period it spent 13% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Wellsville Community Foundation sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 44th percentile within OH. Charities of a similar size with the same main cause include Scatter Christ Inc ($130k), Corinthian Baptist Community Development Corporation ($130k) and Sawgrass Foundation Inc ($130k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. At year end it held assets of $752k against liabilities of $1,000, net assets of $751k.