Covered Bridge Affordable Housing Corporation

Analysis

Covered Bridge Affordable Housing Corporation is a registered charity in United States, based in Concord, NH. It received its IRS tax-exemption ruling in August 2002, 24 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Covered Bridge Affordable Housing Corporation reported income of $223k and spending of $269k, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $206k to $223k (+8.2%), an average of +2.0% a year. Over the whole period it spent 120% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Covered Bridge Affordable Housing Corporation sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 58th percentile within NH. Charities of a similar size with the same main cause include Mitchell Area Safehouse Foundation ($223k), Accessible Country Trail Inc ($223k) and Clearwater Residential Inc ($223k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 66% of the total. At year end it held assets of $1.1m against liabilities of $21k, net assets of $1.1m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.