Oak City Cares Inc

Analysis

Oak City Cares Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in February 2019, 7 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 June 2023, Oak City Cares Inc reported income of $1.3m and spending of $1.4m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.8m to $1.3m (-29%), an average of -8.1% a year. The sharpest change came in the year to June 2022, when income rose by 48%. Over the whole period it spent 71% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Oak City Cares Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within NC. Charities of a similar size with the same main cause include Aspire of Western New York Inc ($1.3m), Homestead Affordable Housing Inc ($1.3m) and Peninsula Housing Development Inc II ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $124k (8.8% of expenses). Other salaries and wages came to $600k. At year end it held assets of $2.1m against liabilities of $61k, net assets of $2.0m. It reported 27 employees.