Olive Hill Community Economic Development Corporation

Analysis

Olive Hill Community Economic Development Corporation is a registered charity in United States, based in Morganton, NC. It received its IRS tax-exemption ruling in July 1999, 27 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 2023, Olive Hill Community Economic Development Corporation reported income of $124k and spending of $99k, leaving 20% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $214k to $124k (-42%), an average of -24% a year. The sharpest change came in the year to December 2023, when income rose by 187%. Over the whole period it spent 103% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Olive Hill Community Economic Development Corporation sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 40th percentile within NC. Charities of a similar size with the same main cause include Palmetto Housing Corporation ($124k), Volga-Canal Housing Inc ($124k) and Hyde Park 811 Housing Corporationinc ($124k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 22% of the total. At year end it held assets of $82k against liabilities of $53k, net assets of $28k.