Tri-County Industries Inc

Analysis

Tri-County Industries Inc is a registered charity in United States, based in Rocky Mount, NC. It received its IRS tax-exemption ruling in January 1967, 59 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 2023, Tri-County Industries Inc reported income of $2.8m and spending of $2.7m, spending 99% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $3.3m to $2.8m (-16%), an average of -5.8% a year. The sharpest change came in the year to June 2022, when income dropped by 28%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Tri-County Industries Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within NC. Charities of a similar size with the same main cause include Homewood Insurance Company Inc ($2.8m), Arc of Tri-Cities ($2.8m) and Northeast Community Fund ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 41% and program service revenue 1.3% of the total. Compensation of current officers, directors and key employees was $117k (4.3% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $4.3m against liabilities of $425k, net assets of $3.9m. It reported 152 employees.