Medical Loan Closet of Henderson County Inc

Analysis

Medical Loan Closet of Henderson County Inc is a registered charity in United States, based in Hendersonville, NC. It received its IRS tax-exemption ruling in January 2009, 17 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 2023, Medical Loan Closet of Henderson County Inc reported income of $192k and spending of $125k, leaving 35% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $126k to $192k (+53%), an average of +53% a year. The sharpest change came in the year to December 2023, when income rose by 53%. Over the whole period it spent 70% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Medical Loan Closet of Henderson County Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within NC. Charities of a similar size with the same main cause include Hive Foundation Inc ($192k), The Get in Touch Foundation ($192k) and Accelerate ($192k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 46% of the total. At year end it held assets of $466k against liabilities of $3,261, net assets of $463k.