Adla Inc Oic of Wayne County CDC

Analysis

Adla Inc Oic of Wayne County CDC is a registered charity in United States, based in Goldsboro, NC. It received its IRS tax-exemption ruling in July 2003, 23 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 2024, Adla Inc Oic of Wayne County CDC reported income of $1.9m and spending of $658k, leaving 65% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $107k to $1.9m (+1673%), an average of +78% a year. The sharpest change came in the year to June 2021, when income rose by 20533%. Over the whole period it spent 81% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Adla Inc Oic of Wayne County CDC sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within NC. Charities of a similar size with the same main cause include Arts Business Collaborative Inc ($1.9m), Hope Renovations ($1.9m) and Partners Achieving Community Transformation Inc ($1.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 89% and program service revenue 11% of the total. Other salaries and wages came to $1,100. At year end it held assets of $2.7m against liabilities of $189k, net assets of $2.6m. It reported 11 employees.