Charlotte Area Fund Inc 1326

Analysis

Charlotte Area Fund Inc 1326 is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in June 1964, 62 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 2023, Charlotte Area Fund Inc 1326 reported income of $2.7m and spending of $2.6m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.6m to $2.7m (+71%), an average of +14% a year. The sharpest change came in the year to June 2021, when income rose by 114%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Charlotte Area Fund Inc 1326 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 88th percentile, and in the 89th percentile within NC. Charities of a similar size with the same main cause include Moving in the Spirit Inc ($2.7m), Magdalena Ministries Inc ($2.7m) and Craftsbury Community Care Center ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $778k. At year end it held assets of $1.1m against liabilities of $57k, net assets of $1.1m. It reported 22 employees.