Carolina Senior Living

Analysis

Carolina Senior Living is a registered charity in United States, based in Lexington, NC. It received its IRS tax-exemption ruling in September 2012, 14 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 September 2023, Carolina Senior Living reported income of $224k and spending of $388k, spending 173% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $231k to $224k (-2.9%), an average of -0.7% a year. Over the whole period it spent 154% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Carolina Senior Living sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 54th percentile within NC. Charities of a similar size with the same main cause include Apple Grove Homes Inc ($224k), Thompson Falls Lions Manor Inc ($224k) and Siler City Housing Corporation ($224k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 47% and program service revenue 52% of the total. At year end it held assets of $3.6m against liabilities of $75k, net assets of $3.5m.

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.