Alleghany Cares Inc

Analysis

Alleghany Cares Inc is a registered charity in United States, based in Sparta, NC. It received its IRS tax-exemption ruling in August 1992, 34 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 2024, Alleghany Cares Inc reported income of $745k and spending of $734k, spending 99% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $498k to $745k (+49%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 38%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Alleghany Cares Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within NC. Charities of a similar size with the same main cause include Downtown Arlington Management Corporation ($745k), Ivanhoe Neighborhood Council ($745k) and City Impact ($745k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 13% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $45k (6.1% of expenses). Other salaries and wages came to $359k. At year end it held assets of $878k against liabilities of $8,707, net assets of $869k. It reported 31 employees.