Shore Area Community Development Corporation

Analysis

Shore Area Community Development Corporation is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in October 1996, 30 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, Shore Area Community Development Corporation reported income of $3.9m and spending of $5.0m, spending 130% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.5m to $3.9m (+54%), an average of +12% a year. The sharpest change came in the year to December 2020, when income rose by 45%. Over the whole period it spent 136% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Shore Area Community Development Corporation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within CT. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($3.9m), Hope Partnership Inc ($3.9m) and Rhode Island Coalition for the Homeless ($3.9m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 88% of the total. At year end it held assets of $28.7m against liabilities of $34.5m, net assets of -$5.8m.

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.