Gaston Residential Development Inc

Analysis

Gaston Residential Development Inc is a registered charity in United States, based in Gastonia, NC. It received its IRS tax-exemption ruling in May 1993, 33 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Gaston Residential Development Inc reported income of $227k and spending of $122k, leaving 46% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $150k to $227k (+51%), an average of +8.6% a year. The sharpest change came in the year to June 2021, when income rose by 300%. Over the whole period it spent 41% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gaston Residential Development Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 54th percentile within NC. Charities of a similar size with the same main cause include Virginia Young Mens Christian Association Inc ($227k), Maritime Patrol Association Inc ($227k) and Coalition of Powhatan Churches ($227k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 9.2% and program service revenue 0.1% of the total. At year end it held assets of $3.2m against liabilities of $1.3m, net assets of $1.9m.