Aldersgate Properties Inc

Analysis

Aldersgate Properties Inc is a registered charity in United States, based in Florence, KY. It received its IRS tax-exemption ruling in March 1994, 32 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 June 2023, Aldersgate Properties Inc reported income of $306k and spending of $338k, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $196k to $306k (+57%), an average of +12% a year. The sharpest change came in the year to June 2023, when income rose by 36%. Over the whole period it spent 138% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Aldersgate Properties Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 62nd percentile within KY. Charities of a similar size with the same main cause include Cumberland County Dispute Resolution Center Inc ($306k), Orange Coast Optimist Club of Garden Grove ($306k) and San Ramon Valley Education Foundation ($306k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 47% and program service revenue 52% of the total. At year end it held assets of $231k against liabilities of $2.4m, net assets of -$2.2m.

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.