Advent Housing Group Inc

Analysis

Advent Housing Group Inc is a registered charity in United States, based in Hickory, NC. It received its IRS tax-exemption ruling in May 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Advent Housing Group Inc reported income of $104k and spending of $137k, spending 131% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $40k to $104k (+158%), an average of +61% a year. The sharpest change came in the year to December 2023, when income rose by 1730%. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Advent Housing Group Inc sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 36th percentile within NC. Charities of a similar size with the same main cause include Wood Lane Apartments Inc ($104k), Brazos Valley CDC Inc ($104k) and Parc Residential Options ($104k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.9% of the total. At year end it held assets of $171k against liabilities of $0, net assets of $171k.