Assembly Terrace Inc

Analysis

Assembly Terrace Inc is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in May 1993, 33 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 June 2024, Assembly Terrace Inc reported income of $437k and spending of $488k, spending 112% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $399k to $437k (+9.3%), an average of +2.2% a year. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Assembly Terrace Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 67th percentile within NC. Charities of a similar size with the same main cause include Rochester Senior Housing Inc ($436k), Greencastle of Sterling Inc ($437k) and Parkside Housing Development Fund Company Inc ($436k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 34% and program service revenue 62% of the total. At year end it held assets of $1.4m against liabilities of $3.4m, net assets of -$2.0m.

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.