Elder Center Inc

Analysis

Elder Center Inc is a registered charity in United States, based in Statesville, NC. It received its IRS tax-exemption ruling in September 1987, 39 years ago. 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, Elder Center Inc reported income of $283k and spending of $245k, spending 87% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $215k to $283k (+32%), an average of +9.6% a year. The sharpest change came in the year to June 2023, when income rose by 51%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Elder Center Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 59th percentile within NC. Charities of a similar size with the same main cause include East Cooper Christian Preschool LLC ($283k), Pioneers Go East Collective Inc ($283k) and Lake Region Basketball Officials Association ($283k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 36% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $45k (18% of expenses). Other salaries and wages came to $79k. At year end it held assets of $514k against liabilities of $160k, net assets of $354k. It reported 8 employees.