Veterans Bridge Home Inc

Analysis

Veterans Bridge Home Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in July 2011, 15 years ago. 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 December 2023, Veterans Bridge Home Inc reported income of $4.4m and spending of $4.7m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $4.4m (+217%), an average of +34% a year. The sharpest change came in the year to December 2023, when income rose by 103%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Veterans Bridge Home Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within NC. Charities of a similar size with the same main cause include Community Chest Inc ($4.4m), Olive Tree Ministries ($4.4m) and New River Community College Educational Foundation Inc ($4.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 103% of the total. Compensation of current officers, directors and key employees was $231k (4.9% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $3.5m against liabilities of $1.9m, net assets of $1.6m. It reported 41 employees.