Capital for Change Inc

Analysis

Capital for Change Inc is a registered charity in United States, based in Wallingford, CT. It received its IRS tax-exemption ruling in May 1968, 58 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Capital for Change Inc reported income of $10.5m and spending of $7.9m, leaving 24% of income unspent that year. Across the 6 years on record, from March 2019 to March 2024, income grew from $7.6m to $10.5m (+38%), an average of +6.6% a year. The sharpest change came in the year to March 2021, when income rose by 48%. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Capital for Change Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within CT. Charities of a similar size with the same main cause include Hopelink of Southern Nevada ($10.5m), Beyond Owners Group Inc ($10.5m) and New Economics for Women ($10.4m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 33% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $380k (4.8% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $76.2m against liabilities of $54.6m, net assets of $21.7m. It reported 59 employees.