Stove Works Foundation

Analysis

Stove Works Foundation is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in August 2022, 4 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Stove Works Foundation reported income of $4.8m and spending of $1,328, leaving 100% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $350k to $4.8m (+1274%), an average of +271% a year. The sharpest change came in the year to December 2022, when income dropped by 100%. Over the whole period it spent 0.0% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Stove Works Foundation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within TN. Charities of a similar size with the same main cause include GPS Education Partners Inc ($4.8m), Repertoire International de Litterature Musicale Inc ($4.8m) and Capitol Center for the Arts ($4.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $5.2m against liabilities of $0, net assets of $5.2m.