Pride of Kinston Inc

Analysis

Pride of Kinston Inc is a registered charity in United States, based in Kinston, NC. It received its IRS tax-exemption ruling in March 1985, 41 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Pride of Kinston Inc reported income of $292k and spending of $348k, spending 119% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $361k to $292k (-19%), an average of -5.1% a year. The sharpest change came in the year to June 2022, when income rose by 31%. Over the whole period it spent 108% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Pride of Kinston Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 60th percentile within NC. Charities of a similar size with the same main cause include Universal Public Procurement Certification Council ($292k), MLK Avenue Redevelopment Corporation ($292k) and Lacrosse Community Pride ($292k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 57% and program service revenue 39% of the total. Other salaries and wages came to $24k. At year end it held assets of $1.7m against liabilities of $93k, net assets of $1.6m. It reported 3 employees.

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.