Turnaround Community Lending

Analysis

Turnaround Community Lending is a registered charity in United States, based in Rutledge, TN. It received its IRS tax-exemption ruling in December 2021, 5 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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, Turnaround Community Lending reported income of $91k and spending of $126k, spending 138% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $25k to $91k (+269%), an average of +269% a year. The sharpest change came in the year to December 2023, when income rose by 269%. Over the whole period it spent 202% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Turnaround Community Lending sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 34th percentile within TN. Charities of a similar size with the same main cause include Westport Young Womans League Inc ($91k), Honu Project ($91k) and Wisconsin Association for Talented and Gifted ($91k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 0.0% of the total. At year end it held assets of $72k against liabilities of $75k, net assets of -$2,685.