Aldersgate Life Plan Services Inc

Analysis

Aldersgate Life Plan Services Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in December 2016, 10 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation (type ii) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Aldersgate Life Plan Services Inc reported income of $5.8m and spending of $3.0m, leaving 49% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.8m to $5.8m (+228%), an average of +48% a year. The sharpest change came in the year to December 2022, when income rose by 4126%. Over the whole period it spent 117% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Aldersgate Life Plan Services Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NC. Charities of a similar size with the same main cause include BCLF Ventures Inc ($5.8m), McIntosh Senior Living ($5.9m) and Alliance for Housing Oakland County Continuum of Care ($5.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 0.2% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $379k (13% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $171k against liabilities of $621k, net assets of -$451k. It reported 28 employees.