Lauras Homes Of North Carolina Inc
Lauras Homes Of North Carolina Inc reports a deficit in 2021 with stable assets and no reported officer compensation.
EIN: 201648108 · Shelby, NC · NTEE: P30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $505K |
| Total Expenses | $559K |
| Program Spending | 80% |
| Net Assets | $1.1M |
| Transparency Score | 75/100 |
Is Lauras Homes Of North Carolina Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lauras Homes Of North Carolina Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lauras Homes Of North Carolina Inc
Lauras Homes Of North Carolina Inc (EIN: 201648108) is a nonprofit organization based in Shelby, NC, classified under NTEE code P30. The organization reported total revenue of $505K and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lauras Homes Of North Carolina Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lauras Homes Of North Carolina Inc is a small nonprofit that has been operating for 21 years, with 11 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of 3.2%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $505K |
| Total Expenses | $559K |
| Surplus / Deficit | $-54,428 |
| Total Assets | $1.1M |
| Total Liabilities | $2K |
| Net Assets | $1.1M |
| Operating Margin | -10.8% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 24.1 months |
Financial Health Grade: B
In 2021, Lauras Homes Of North Carolina Inc reported a deficit of $54K with expenses exceeding revenue, holds 24.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 11 years of filings (2011–2021), Lauras Homes Of North Carolina Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | -22.7% | -13.3% | +2.1% |
| 2020 | -2.2% | -6.6% | +0.7% |
| 2019 | -1.0% | +0.9% | -1.9% |
| 2018 | +7.2% | +5.1% | -0.9% |
| 2017 | +3.5% | +9.6% | -1.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Lauras Homes Of North Carolina Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Lauras Homes Of North Carolina Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $54K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all 11 available filings, indicating that executive leadership is either entirely volunteer-based or compensated below the IRS reporting thresholds for officers, directors, trustees, and key employees, which is a positive sign for resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Lauras Homes Of North Carolina Inc's IRS 990 filings:
- Expenses exceeded revenue in the latest filing (2021), indicating an operational deficit.
- Liabilities increased from $0 to $1,559 in 2021, though this amount is minor.
Strengths
The following positive indicators were identified for Lauras Homes Of North Carolina Inc:
- Consistent asset base over $1 million, indicating financial stability.
- No reported officer compensation across all 11 filings, suggesting efficient use of funds for leadership.
- Long history of IRS 990 filings (11 filings), demonstrating transparency and consistent operation.
- Maintained operations with revenues consistently above $400,000 for over a decade.
Frequently Asked Questions about Lauras Homes Of North Carolina Inc
Is Lauras Homes Of North Carolina Inc a legitimate charity?
Lauras Homes Of North Carolina Inc (EIN: 201648108) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 75/100. It has 11 years of IRS 990 filings on record. Total revenue: $505K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Lauras Homes Of North Carolina Inc spend its money?
Lauras Homes Of North Carolina Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Lauras Homes Of North Carolina Inc tax-deductible?
Lauras Homes Of North Carolina Inc is registered as a tax-exempt nonprofit (EIN: 201648108). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Lauras Homes Of North Carolina Inc's spending goes to programs?
Lauras Homes Of North Carolina Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Lauras Homes Of North Carolina Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Lauras Homes Of North Carolina Inc is above average for NTEE category P30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Lauras Homes Of North Carolina Inc located?
Lauras Homes Of North Carolina Inc is headquartered in Shelby, North Carolina and files with the IRS under EIN 201648108. It is classified under NTEE code P30.
How many years of IRS 990 filings does Lauras Homes Of North Carolina Inc have?
Lauras Homes Of North Carolina Inc has 11 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $505K in total revenue.
Is Lauras Homes Of North Carolina Inc experiencing financial instability due to recent deficits?
While the organization reported expenses exceeding revenue in 2021 ($559,155 vs. $504,727), and in several prior years (2017-2019), its assets have remained stable, exceeding $1.1 million in 2021. This suggests that while operational deficits have occurred, the organization has sufficient reserves to cover them, indicating stability rather than immediate instability.
What caused the significant increase in liabilities in 2021?
In 2021, liabilities increased from $0 in previous years to $1,559. Without further detail from the full IRS 990, the specific cause cannot be determined, but this amount is relatively small compared to the organization's total assets of $1,121,941.
How does the lack of reported officer compensation impact the organization?
The consistent reporting of 0% officer compensation across all filings suggests that the organization either relies heavily on volunteer leadership or compensates its executives below the IRS reporting thresholds. This can be seen as a positive for donors, as more funds are potentially directed towards programs rather than administrative salaries.
Filing History
IRS 990 filing history for Lauras Homes Of North Carolina Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2021), Lauras Homes Of North Carolina Inc's revenue has grown by 36.8%, moving from $369K to $505K. Total assets increased by 54.5% over the same period, from $726K to $1.1M. Total functional expenses rose by 65.1%, from $339K to $559K. In its most recent filing year (2021), Lauras Homes Of North Carolina Inc reported a deficit of $54K, with expenses exceeding revenue. The organization holds $2K in liabilities against $1.1M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $505K | $559K | $1.1M | $2K | — | View 990 |
| 2020 | $653K | $645K | $1.1M | $0 | — | View 990 |
| 2019 | $667K | $690K | $1.1M | $0 | — | View 990 |
| 2018 | $674K | $684K | $1.1M | $0 | — | View 990 |
| 2017 | $629K | $650K | $1.1M | $0 | — | View 990 |
| 2016 | $608K | $593K | $1.1M | $0 | — | View 990 |
| 2015 | $630K | $542K | $1.1M | $0 | — | View 990 |
| 2014 | $645K | $475K | $1.0M | $0 | — | View 990 |
| 2013 | $462K | $406K | $871K | $0 | — | View 990 |
| 2012 | $408K | $314K | $815K | $0 | — | View 990 |
| 2011 | $369K | $339K | $726K | $5K | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $505K, expenses of $559K, and assets of $1.1M (revenue -22.7% year-over-year).
- 2020: Revenue of $653K, expenses of $645K, and assets of $1.1M (revenue -2.2% year-over-year).
- 2019: Revenue of $667K, expenses of $690K, and assets of $1.1M (revenue -1.0% year-over-year).
- 2018: Revenue of $674K, expenses of $684K, and assets of $1.1M (revenue +7.2% year-over-year).
- 2017: Revenue of $629K, expenses of $650K, and assets of $1.1M (revenue +3.5% year-over-year).
- 2016: Revenue of $608K, expenses of $593K, and assets of $1.1M (revenue -3.6% year-over-year).
- 2015: Revenue of $630K, expenses of $542K, and assets of $1.1M (revenue -2.2% year-over-year).
- 2014: Revenue of $645K, expenses of $475K, and assets of $1.0M (revenue +39.6% year-over-year).
- 2013: Revenue of $462K, expenses of $406K, and assets of $871K (revenue +13.1% year-over-year).
- 2012: Revenue of $408K, expenses of $314K, and assets of $815K (revenue +10.6% year-over-year).
- 2011: Revenue of $369K, expenses of $339K, and assets of $726K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lauras Homes Of North Carolina Inc:
Data Sources and Methodology
This transparency report for Lauras Homes Of North Carolina Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.