WV Hive Network Inc

Analysis

WV Hive Network Inc is a registered charity in United States, based in Beckley, WV. It received its IRS tax-exemption ruling in July 2022, 4 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, WV Hive Network Inc reported income of $1.1m and spending of $1.0m, spending 95% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $37k to $1.1m (+2739%), an average of +433% a year. The sharpest change came in the year to June 2022, when income rose by 1057%. Over the whole period it spent 105% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, WV Hive Network Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 78th percentile within WV. Charities of a similar size with the same main cause include 360 Detroit ($1.1m), Opportunities Industrialization Center of Oklahoma County Inc ($1.1m) and Randolph Area Community Development Corporation ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $398k. At year end it held assets of $355k against liabilities of $166k, net assets of $189k.