Family Services of Davidson County Inc

Analysis

Family Services of Davidson County Inc is a registered charity in United States, based in Lexington, NC. It received its IRS tax-exemption ruling in August 1985, 41 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 December 2023, Family Services of Davidson County Inc reported income of $1.5m and spending of $1.5m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.5m (+1.3%), an average of +0.3% a year. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Family Services of Davidson County Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within NC. Charities of a similar size with the same main cause include Independence Inc ($1.5m), Foundation of Trustees for the Family Learning Center ($1.5m) and Family Promise of the South Bay ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 6.0% of the total. Compensation of current officers, directors and key employees was $81k (5.4% of expenses). Other salaries and wages came to $823k. At year end it held assets of $1.4m against liabilities of $55k, net assets of $1.3m. It reported 41 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.