Carolina Farm Trust Inc

Analysis

Carolina Farm Trust Inc is a registered charity in United States, based in Cornelius, NC. It received its IRS tax-exemption ruling in June 2015, 11 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. 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, Carolina Farm Trust Inc reported income of $5.5m and spending of $1.7m, leaving 70% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $161k to $5.5m (+3319%), an average of +142% a year. The sharpest change came in the year to December 2023, when income rose by 423%. Over the whole period it spent 45% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Carolina Farm Trust 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 92nd percentile, and in the 94th percentile within NC. Charities of a similar size with the same main cause include Safe Harbor Center Inc ($5.5m), George Ade Memorial Health Care Center Inc ($5.5m) and Indiana Masonic Home Foundation Incorporated ($5.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 3.4% of the total. Compensation of current officers, directors and key employees was $125k (7.6% of expenses). Other salaries and wages came to $488k. At year end it held assets of $8.1m against liabilities of $3.5m, net assets of $4.6m. It reported 22 employees.