Holy Angels Inc

Analysis

Holy Angels Inc is a registered charity in United States, based in Belmont, NC. It received its IRS tax-exemption ruling in March 1946, 80 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 June 2024, Holy Angels Inc reported income of $10.7m and spending of $10.7m, spending 99% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $9.1m to $10.7m (+18%), an average of +3.4% a year. The sharpest change came in the year to June 2021, when income rose by 65%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Holy Angels Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Plaza Community Center ($10.7m), The Joyce D & Andrew J Mandell Greater Hartford Jewish Community ($10.8m) and Foster Care Coalition of Greater St Louis Inc ($10.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 4.6% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $1000k (9.4% of expenses). Other salaries and wages came to $4.9m. At year end it held assets of $9.4m against liabilities of $1.5m, net assets of $7.9m. It reported 468 employees.