Carolina Village Inc

Analysis

Carolina Village Inc is a registered charity in United States, based in Hendersonville, NC. It received its IRS tax-exemption ruling in September 1975, 51 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 March 2023, Carolina Village Inc reported income of $33.5m and spending of $31.4m, spending 94% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $24.9m to $33.5m (+34%), an average of +7.7% a year. The sharpest change came in the year to March 2021, when income rose by 26%. Over the whole period it spent 93% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Carolina Village Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include The Legacy Midtown Park Inc ($33.0m), Willow Brook Christian Services ($33.6m) and Colonial Senior Services Inc ($33.0m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 5.5% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $626k (2.0% of expenses). Other salaries and wages came to $12.4m. At year end it held assets of $129.1m against liabilities of $124.4m, net assets of $4.7m. It reported 449 employees.