Kinston Towers I

Analysis

Kinston Towers I is a registered charity in United States, based in Kinston, NC. It received its IRS tax-exemption ruling in June 2009, 17 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 December 2023, Kinston Towers I reported income of $1.3m and spending of $1.1m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.3m (+9.2%), an average of +2.2% a year. Over the whole period it spent 85% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Kinston Towers I sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within NC. Charities of a similar size with the same main cause include Hanover Legion Elderly Housing Corp ($1.3m), Casita Park Housing Development Fund Co Inc ($1.3m) and HQM Properties Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $212k. At year end it held assets of $1.7m against liabilities of $2.0m, net assets of -$355k.