Home Solutions of Davidson County NC Inc

Analysis

Home Solutions of Davidson County NC Inc is a registered charity in United States, based in Lexington, NC. It received its IRS tax-exemption ruling in January 1998, 28 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, Home Solutions of Davidson County NC Inc reported income of $469k and spending of $437k, spending 93% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $380k to $469k (+23%), an average of +7.2% a year. The sharpest change came in the year to June 2022, when income rose by 150%. Over the whole period it spent 70% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Home Solutions of Davidson County NC Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within NC. Charities of a similar size with the same main cause include Lifeline for Families Inc ($469k), Great Falls Housing Corporation ($469k) and Mha Merton House LLC ($468k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 71% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $53k (12% of expenses). Other salaries and wages came to $139k. At year end it held assets of $894k against liabilities of $65k, net assets of $828k. It reported 6 employees.