New Bern Older Adult Housing Incorported

Analysis

New Bern Older Adult Housing Incorported is a registered charity in United States, based in New Bern, NC. It received its IRS tax-exemption ruling in July 1999, 27 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, New Bern Older Adult Housing Incorported reported income of $396k and spending of $434k, spending 110% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $302k to $396k (+31%), an average of +7.1% a year. The sharpest change came in the year to September 2021, when income rose by 19%. Over the whole period it spent 121% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Bern Older Adult Housing Incorported sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within NC. Charities of a similar size with the same main cause include Mama TS Inc ($396k), JB Housing Group Inc ($396k) and Kimble-Dover Street Apartments Inc ($396k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 62% and program service revenue 36% of the total. At year end it held assets of $1.3m against liabilities of $290k, net assets of $1.0m.

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.