Spruce Pine Housing Inc

Analysis

Spruce Pine Housing Inc is a registered charity in United States, based in Spruce Pine, NC. It received its IRS tax-exemption ruling in December 2019, 7 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Spruce Pine Housing Inc reported income of $119k and spending of $159k, spending 134% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $95k to $119k (+25%), an average of +5.8% a year. Over the whole period it spent 145% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Spruce Pine Housing Inc sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 39th percentile within NC. Charities of a similar size with the same main cause include Thi-9 ($119k), First Serv Foundation ($119k) and Allegany County Land Bank Corporation ($119k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. Other salaries and wages came to $5,575. At year end it held assets of $601k against liabilities of $64k, net assets of $537k.

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.