Turning Point Inc

Analysis

Turning Point Inc is a registered charity in United States, based in Monroe, NC. It received its IRS tax-exemption ruling in December 1986, 40 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 2024, Turning Point Inc reported income of $2.5m and spending of $1.9m, leaving 24% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.6m to $2.5m (+53%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 41%. Over the whole period it spent 80% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Turning Point Inc sits at the 85th percentile: it is larger than about 85% 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 Dutton Farm Inc ($2.5m), Glades Initiative Inc ($2.5m) and Akron Community Service Center & Urban League ($2.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 79% of the total. Compensation of current officers, directors and key employees was $104k (5.5% of expenses). Other salaries and wages came to $837k. At year end it held assets of $4.6m against liabilities of $427k, net assets of $4.1m. It reported 63 employees.