Remnant Inc

Analysis

Remnant Inc is a registered charity in United States, based in Mooresville, NC. It received its IRS tax-exemption ruling in March 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Remnant Inc reported income of $114k and spending of $109k, spending 96% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $66k to $114k (+73%), an average of +32% a year. The sharpest change came in the year to December 2023, when income rose by 33%. Over the whole period it spent 84% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Remnant Inc sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 38th percentile within NC. Charities of a similar size with the same main cause include Usacs Foundation Inc ($114k), Uc Sorting Association Inc ($114k) and St Johns Family Center Inc ($114k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 24% and program service revenue 74% of the total. At year end it held assets of $74k against liabilities of $474, net assets of $74k.