Continuum of Care Inc

Analysis

Continuum of Care Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in April 1967, 59 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Continuum of Care Inc reported income of $52.2m and spending of $49.8m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $31.3m to $52.2m (+67%), an average of +14% a year. The sharpest change came in the year to June 2022, when income rose by 30%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Continuum of Care Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CT. Charities of a similar size with the same main cause include Collier Community Foundation Inc ($52.2m), Quincy Community Action Programs Inc ($52.3m) and Chatham Hospital Inc ($52.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $857k (1.7% of expenses). Other salaries and wages came to $30.6m. At year end it held assets of $17.4m against liabilities of $10.7m, net assets of $6.7m. It reported 1,105 employees.