Aldersgate Homes Inc

Analysis

Aldersgate Homes Inc is a registered charity in United States, based in Duluth, GA. It received its IRS tax-exemption ruling in October 1974, 52 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Aldersgate Homes Inc reported income of $87k and spending of $150k, spending 173% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $95k to $87k (-8.4%), an average of -2.2% a year. The sharpest change came in the year to December 2020, when income rose by 193%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Aldersgate Homes Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 34th percentile within GA. Charities of a similar size with the same main cause include Iselin Chemical Hook and Ladder Volunteer Fire Co Inc ($87k), The Great Hill Hose Company Incorporated ($87k) and Illinois Aikido Club ($87k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $34k (22% of expenses). Other salaries and wages came to $35k. At year end it held assets of $726k against liabilities of $2,255, net assets of $724k. It reported 3 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.