Enlace Latino NC Inc

Analysis

Enlace Latino NC Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in February 2022, 4 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Enlace Latino NC Inc reported income of $1.3m and spending of $777k, leaving 40% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $826k to $1.3m (+57%), an average of +57% a year. The sharpest change came in the year to December 2023, when income rose by 57%. Over the whole period it spent 44% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Enlace Latino NC Inc sits at the 88th percentile: it is larger than about 88% 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 Clearwater Jazz Holiday Foundation Inc ($1.3m), Arts for Learning Connecticut ($1.3m) and Grandville Avenue Arts and Humanities Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 7.5% of the total. Compensation of current officers, directors and key employees was $80k (10% of expenses). Other salaries and wages came to $252k. At year end it held assets of $1.2m against liabilities of $4,195, net assets of $1.2m. It reported 5 employees.