First Concord Corporation

Analysis

First Concord Corporation is a registered charity in United States, based in Concord, NC. It received its IRS tax-exemption ruling in February 1993, 33 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, First Concord Corporation reported income of $2.3m and spending of $2.1m, spending 91% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $3.9m to $2.3m (-40%), an average of -12% a year. The sharpest change came in the year to June 2022, when income dropped by 31%. Over the whole period it spent 291% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, First Concord Corporation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within NC. Charities of a similar size with the same main cause include E C Scranton Memorial Library ($2.3m), The Monarch Learning Academy Inc ($2.3m) and Plaza Heights Christian Academy ($2.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $18.6m against liabilities of $19.2m, net assets of -$583k.