Charity Search / F B C CORP
Housing & Shelter (L21) 990 on File

F B C CORP

EIN: 56-1058564 · CHARLOTTE, NC 28269-5320 · United States · FY 2024 Data
3 out of 5 47 / 100 Based on 2+ years of filings
Financial strength (30%) 63/100
Reliability (20%) 55/100
Effectiveness (25%) 68/100
Impact (25%) No data yet
Financial data: FY 2024 · Scored 9/13/2026
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Financial Overview — FY 2024
$1.5M
Total Revenue
$1.8M
Total Expenses
$-1,380,138
Net Assets
0
Employees
Revenue Sources
Expense Breakdown
Program Expense Ratio 82.5%
Fundraising Efficiency N/A
Operating Reserve -9.01x
Liability-to-Asset 119.2%
Revenue Diversification 75.6%
Compared with Peers
FY 2024
Compared with 2,572 similar organizations (United States, Housing & Shelter, $1M–$10M in expenses), FY 2024.
This organization Middle half of peers (P25–P75) Peer median
Ratio This org Peer median Position (P10 → P90)
Program expense ratio
Program expenses / total expenses · higher is better
82.5% 87.2%
P10P90
Below median
Admin expense ratio
Management and general / total expenses · lower is better
17.5% 10.3%
P10P90
Below median
Fundraising expense ratio
Fundraising expenses / total expenses · lower is better
0.0% 0.0%
P10P90
Top quarter
Operating reserve
Months of expenses covered by net assets · higher is better
-9.0 mo 12.6 mo
P10P90
Bottom quarter
Liabilities to assets
Total liabilities / total assets · lower is better
119.2% 39.0%
P10P90
Bottom quarter
Revenue concentration
Share of revenue from the largest source · lower is better
75.6% 89.9%
P10P90
Above median
Revenue growth
Year over year revenue growth
3.7% 6.4%
P10P90
Expense growth
Year over year expense growth
13.8% 6.9%
P10P90
Surplus margin
Surplus as a share of revenue
-21.8% 3.0%
P10P90
Financial History
Year Revenue Expenses Net Assets Program % Staff
2024 $1.5M $1.8M $-1,380,138 82.5% 0
2023 $1.5M $1.6M $-1,050,530 96.1% 0
2022 $1.4M $1.5M $-890,459 96.0% 0
2021 $1.4M $2.2M N/A — 0
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Organization Details
EIN
56-1058564
State
NC
City
CHARLOTTE
ZIP
28269-5320
Classification
L21
Category
Housing & Shelter
Rating
3★
Coverage
A
Last Updated
Aug 2026
Form 990
On File
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