Wactor Gardens Phase II Inc

Analysis

Wactor Gardens Phase II Inc is a registered charity in United States, based in Washington, NC. It received its IRS tax-exemption ruling in October 2004, 22 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Wactor Gardens Phase II Inc reported income of $126k and spending of $164k, spending 130% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $100k to $126k (+26%), an average of +5.9% a year. The sharpest change came in the year to December 2020, when income rose by 16%. Over the whole period it spent 127% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Wactor Gardens Phase II Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 41st percentile within NC. Charities of a similar size with the same main cause include Parc Housing II Inc ($126k), Cheyenne Meadows Corp ($126k) and Journey Home Inc ($126k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 29% of the total. At year end it held assets of $607k against liabilities of $1.1m, net assets of -$543k.

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.