Methodist Home for Children Inc

Analysis

Methodist Home for Children Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in September 1937, 89 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Methodist Home for Children Inc reported income of $22.6m and spending of $24.1m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $18.4m to $22.6m (+23%), an average of +5.3% a year. The sharpest change came in the year to June 2021, when income rose by 29%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Methodist Home for Children Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Smith Agency ($22.6m), Covenant Home ($22.6m) and Mercy Housing Management Group Inc ($22.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $760k (3.2% of expenses). Other salaries and wages came to $12.6m. At year end it held assets of $9.3m against liabilities of $5.1m, net assets of $4.2m. It reported 471 employees.