Carolina Place Inc

Analysis

Carolina Place Inc is a registered charity in United States, based in Rock Hill, SC. It received its IRS tax-exemption ruling in October 1992, 34 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Carolina Place Inc reported income of $204k and spending of $211k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $155k to $204k (+31%), an average of +7.1% a year. The sharpest change came in the year to December 2020, when income rose by 18%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Carolina Place Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 59th percentile within SC. Charities of a similar size with the same main cause include Progress Resources Incorporated ($204k), Alliance Training Center Inc ($204k) and Norman Moore Ministries ($204k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 25% of the total. At year end it held assets of $516k against liabilities of $13k, net assets of $502k.

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.