Iredell Community Outreach Association

Analysis

Iredell Community Outreach Association is a registered charity in United States, based in Statesville, NC. It received its IRS tax-exemption ruling in September 2020, 6 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Iredell Community Outreach Association reported income of $126k and spending of $146k, spending 116% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $197k to $126k (-36%), an average of -36% a year. The sharpest change came in the year to December 2023, when income dropped by 36%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Iredell Community Outreach Association sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 41st percentile within NC. Charities of a similar size with the same main cause include Marshfield Area Respite Care Center Inc ($126k), NLH 3 ($126k) and Lynchpin ($126k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% of the total. Compensation of current officers, directors and key employees was $47k (32% of expenses). Other salaries and wages came to $21k. At year end it held assets of $41k against liabilities of $14k, net assets of $27k. It reported 4 employees.