Providence Place Carthage I Inc

Analysis

Providence Place Carthage I Inc is a registered charity in United States, based in Southern Pnes, NC. It received its IRS tax-exemption ruling in March 2011, 15 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 September 2023, Providence Place Carthage I Inc reported income of $128k and spending of $200k, spending 155% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $122k to $128k (+5.4%), an average of +1.3% a year. Over the whole period it spent 160% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Providence Place Carthage I Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 41st percentile within NC. Charities of a similar size with the same main cause include Village of Hope Inc ($128k), Virginia Housing and Community Development Corporation ($128k) and American Legion-Seniors Unlimited Inc ($128k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 38% and program service revenue 62% of the total. At year end it held assets of $2.0m against liabilities of $2.7m, net assets of -$717k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.