Thrive Asheville Inc

Analysis

Thrive Asheville Inc is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in September 2021, 5 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, Thrive Asheville Inc reported income of $505k and spending of $324k, leaving 36% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $319k to $505k (+58%), an average of +58% a year. The sharpest change came in the year to June 2023, when income rose by 58%. Over the whole period it spent 61% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Thrive Asheville Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within NC. Charities of a similar size with the same main cause include Impact Experience Institute ($505k), Oak Hill Community Trust ($505k) and Shaw Main Streets Inc ($505k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $73k (23% of expenses). Other salaries and wages came to $142k. At year end it held assets of $335k against liabilities of $13k, net assets of $322k. It reported 5 employees.