Snow Approach Foundation Inc

Analysis

Snow Approach Foundation Inc is a registered charity in United States, based in Hillsborough, NC. It received its IRS tax-exemption ruling in August 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 December 2023, Snow Approach Foundation Inc reported income of $302k and spending of $141k, leaving 53% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $41k to $302k (+636%), an average of +636% a year. The sharpest change came in the year to December 2023, when income rose by 636%. Over the whole period it spent 49% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Snow Approach Foundation Inc 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 60th percentile within NC. Charities of a similar size with the same main cause include Institute for Senior Living ($302k), Network2work USA ($303k) and Njea Frederick L Hipp Foundation for Excellence in Education ($302k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 33% of the total. At year end it held assets of $457k against liabilities of $282k, net assets of $175k.