Morganton Community Enrichment Inc

Analysis

Morganton Community Enrichment Inc is a registered charity in United States, based in Morganton, NC. It received its IRS tax-exemption ruling in July 2010, 16 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 (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, Morganton Community Enrichment Inc reported income of $84k and spending of $92k, spending 109% of what it took in. Across the 3 years on record, from December 2019 to December 2021, income fell from $231k to $84k (-63%), an average of -40% a year. The sharpest change came in the year to December 2021, when income rose by 1651%. Over the whole period it spent 83% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Morganton Community Enrichment Inc sits at the 19th percentile: it is larger than about 19% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 30th percentile within NC. Charities of a similar size with the same main cause include Open Heart Community Care Services Inc ($84k), Triple R Community Housing I Inc ($85k) and CSPNJ Homes 2006 Inc ($84k).

On its Form 990 for the period ending December 2021, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $6,418 (7.0% of expenses). At year end it held assets of $849k against liabilities of $2,353, net assets of $847k.