Preschool at Chapel of the Cross

Analysis

Preschool at Chapel of the Cross is a registered charity in United States, based in Chapel Hill, NC. It received its IRS tax-exemption ruling in October 1989, 37 years ago. Its declared purposes cover human services, 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 July 2023, Preschool at Chapel of the Cross reported income of $272k and spending of $296k, spending 109% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income fell from $287k to $272k (-5.5%), an average of -1.4% a year. The sharpest change came in the year to July 2022, when income rose by 135%. Over the whole period it spent 108% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Preschool at Chapel of the Cross sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 58th percentile within NC. Charities of a similar size with the same main cause include Northmen Den Youth Pantries Inc ($271k), North Shore Horizons Inc ($272k) and Wheels Transportation Inc ($271k).

On its Form 990 for the period ending July 2023, revenue came from program service revenue 89% of the total. Other salaries and wages came to $207k. At year end it held assets of $192k against liabilities of $41k, net assets of $151k. It reported 10 employees.