Building Forence Together CDC

Analysis

Building Forence Together CDC is a registered charity in United States, based in Florence, SC. It received its IRS tax-exemption ruling in February 2023, 3 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 2024, Building Forence Together CDC reported income of $304k and spending of $7,977, leaving 97% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income fell from $406k to $304k (-25%), an average of -25% a year. The sharpest change came in the year to June 2024, when income dropped by 25%. Over the whole period it spent 1.9% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Building Forence Together CDC sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 67th percentile within SC. Charities of a similar size with the same main cause include Preservation Pottstown Inc ($304k), Babcock Ranch Foundation Inc ($304k) and Central Appalachian Rural Investment Corporation ($304k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% of the total. At year end it held assets of $696k against liabilities of $0, net assets of $696k.