Alamance Extended Care Inc

Analysis

Alamance Extended Care Inc is a registered charity in United States, based in Greensboro, NC. It received its IRS tax-exemption ruling in August 1985, 41 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Alamance Extended Care Inc reported income of $13.6m and spending of $16.3m, spending 120% of what it took in. Across the 5 years on record, from September 2019 to December 2023, income fell from $18.0m to $13.6m (-24%), an average of -6.8% a year. The sharpest change came in the year to September 2021, when income dropped by 16%. Over the whole period it spent 116% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Alamance Extended Care Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Southern California Housing Development Corporation of ($13.6m), Elder Care Alliance of San Rafael ($13.6m) and Habitat for Humanity International Inc ($13.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.5% and program service revenue 97% of the total. Other salaries and wages came to $5.7m. At year end it held assets of $54.0m against liabilities of $56.6m, net assets of -$2.6m. It reported 201 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.