Remnant of Israel Inc

Analysis

Remnant of Israel Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in November 1994, 32 years ago. 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 2021, Remnant of Israel Inc reported income of $3.4m and spending of $2.3m, leaving 33% of income unspent that year. Across the 3 years on record, from December 2019 to December 2021, income grew from $2.3m to $3.4m (+44%), an average of +20% a year. The sharpest change came in the year to December 2020, when income rose by 28%. Over the whole period it spent 75% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Remnant of Israel Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within NC. Charities of a similar size with the same main cause include The Florence Crittenton Agency Inc ($3.4m), Stanwood-Camano Art Advocacy Commission ($3.4m) and Habitat for Humanity International Inc ($3.4m).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $83k (3.6% of expenses). Other salaries and wages came to $344k. At year end it held assets of $4.2m against liabilities of $103k, net assets of $4.1m. It reported 8 employees.