The Harvest Center of Charlotte Inc

Analysis

The Harvest Center of Charlotte Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in December 2002, 24 years ago. Its declared purposes cover food, agriculture and nutrition, 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 December 2023, The Harvest Center of Charlotte Inc reported income of $2.1m and spending of $2.1m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.1m to $2.1m (+0.7%), an average of +0.2% a year. The sharpest change came in the year to December 2022, when income rose by 36%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Harvest Center of Charlotte Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within NC. Charities of a similar size with the same main cause include Cheerful Home Association ($2.1m), Child Education Center ($2.1m) and Nourish California ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $144k (6.9% of expenses). Other salaries and wages came to $793k. At year end it held assets of $6.0m against liabilities of $8,660, net assets of $6.0m. It reported 19 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.