Iredell Council on Aging Inc

Analysis

Iredell Council on Aging Inc is a registered charity in United States, based in Statesville, NC. It received its IRS tax-exemption ruling in October 1974, 52 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 June 2023, Iredell Council on Aging Inc reported income of $1.6m and spending of $1.9m, spending 119% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.5m to $1.6m (+5.7%), an average of +1.9% a year. The sharpest change came in the year to June 2022, when income rose by 19%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Iredell Council on Aging Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within NC. Charities of a similar size with the same main cause include Northern Hills Alcohol and Drug Services Inc ($1.6m), Southern Vermont Health Services Corporation ($1.6m) and North Dakota Humanities Council ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 10% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $61k (3.2% of expenses). Other salaries and wages came to $517k. At year end it held assets of $1.1m against liabilities of $92k, net assets of $1.0m. It reported 39 employees.