Legacy Place Catawba Valley Inc

Analysis

Legacy Place Catawba Valley Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in April 2004, 22 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Legacy Place Catawba Valley Inc reported income of $253k and spending of $314k, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $244k to $253k (+3.5%), an average of +0.9% a year. Over the whole period it spent 130% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Legacy Place Catawba Valley Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 57th percentile within NC. Charities of a similar size with the same main cause include Plaza Del Sol Manor Inc ($253k), Housing Services of Kansas City Inc ($253k) and Villa Calleguas Inc ($253k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 58% of the total. At year end it held assets of $2.1m against liabilities of $36k, net assets of $2.1m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.