Cardinal Properties Inc

Analysis

Cardinal Properties Inc is a registered charity in United States, based in Muncie, IN. It received its IRS tax-exemption ruling in August 2006, 20 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cardinal Properties Inc reported income of $731k and spending of $973k, spending 133% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.0m to $731k (-85%), an average of -38% a year. The sharpest change came in the year to June 2020, when income dropped by 143%. Over the whole period it spent 129% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Cardinal Properties Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 76th percentile within IN. Charities of a similar size with the same main cause include United Way of Coastal Carolina Inc ($731k), Provision Trust Inc ($732k) and Moreshet Bat Sheva- Orchot Yosher Inc ($731k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 25% and program service revenue 44% of the total. At year end it held assets of $6.6m against liabilities of $10.1m, net assets of -$3.5m.

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.