Presbyterian Homes of Charlotte Inc

Analysis

Presbyterian Homes of Charlotte Inc is a registered charity in United States, based in Port Charlotte, FL. It received its IRS tax-exemption ruling in September 1977, 49 years ago. 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, Presbyterian Homes of Charlotte Inc reported income of $998k and spending of $1.1m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $896k to $998k (+11%), an average of +2.7% a year. Over the whole period it spent 114% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Presbyterian Homes of Charlotte Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 81st percentile within FL. Charities of a similar size with the same main cause include Brookhaven Fire Company ($998k), Helping Hands Medical Mission Inc ($998k) and West Hartford All Sports Council Inc ($998k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $273k. At year end it held assets of $2.7m against liabilities of $2.9m, net assets of -$207k.

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.