Alcovets

Analysis

Alcovets is a registered charity in United States, based in Graham, NC. It received its IRS tax-exemption ruling in February 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Alcovets reported income of $206k and spending of $161k, leaving 22% of income unspent that year. Across the 4 years on record, from December 2018 to December 2023, income grew from $34k to $206k (+509%), an average of +83% a year. The sharpest change came in the year to December 2021, when income rose by 282%. Over the whole period it spent 58% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Alcovets sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 52nd percentile within NC. Charities of a similar size with the same main cause include Nami Fairbanks ($206k), Lubbock County Expo Center Inc ($206k) and Green Wave Athletic Boosters ($206k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 1.1% of the total. At year end it held assets of $282k against liabilities of $2,721, net assets of $280k.