Onespartanburg Inc Foundation

Analysis

Onespartanburg Inc Foundation is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in May 2022, 4 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 June 2023, Onespartanburg Inc Foundation reported income of $1.6m and spending of $971k, leaving 40% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $511k to $1.6m (+214%), an average of +214% a year. The sharpest change came in the year to June 2023, when income rose by 214%. Over the whole period it spent 46% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Onespartanburg Inc Foundation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 87th percentile within SC. Charities of a similar size with the same main cause include United Way of Kennebec Valley ($1.6m), Urban Impact Inc ($1.6m) and World Education and Development Fund ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.1m against liabilities of $0, net assets of $1.1m.