F B C Corp

Analysis

F B C Corp is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in February 2000, 26 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, F B C Corp reported income of $1.5m and spending of $1.6m, spending 111% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.4m to $1.5m (+6.5%), an average of +1.6% a year. Over the whole period it spent 120% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, F B C Corp sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within NC. Charities of a similar size with the same main cause include Gouverneur Court Housing Development Fund Corporation ($1.5m), Washington Place at St Barnabas Inc ($1.5m) and Matthew House ($1.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 76% and program service revenue 23% of the total. At year end it held assets of $7.9m against liabilities of $9.0m, net assets of -$1.1m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.