East Carolina Community Development Inc

Analysis

East Carolina Community Development Inc is a registered charity in United States, based in Beaufort, NC. It received its IRS tax-exemption ruling in May 1995, 31 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 (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, East Carolina Community Development Inc reported income of $3.0m and spending of $3.5m, spending 115% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $3.0m (+26%), an average of +5.9% a year. The sharpest change came in the year to June 2020, when income rose by 53%. Over the whole period it spent 106% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, East Carolina Community Development Inc 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 89th percentile, and in the 90th percentile within NC. Charities of a similar size with the same main cause include Pine Gardens I Inc ($3.0m), Drake House Inc ($3.0m) and Operation Hope of Fairfield Inc ($3.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $399k (11% of expenses). Other salaries and wages came to $342k. At year end it held assets of $28.7m against liabilities of $16.3m, net assets of $12.4m. It reported 5 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.