Arc Cape May Housing Inc

Analysis

Arc Cape May Housing Inc is a registered charity in United States, based in Cape May CH, NJ. It received its IRS tax-exemption ruling in March 2006, 20 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 June 2023, Arc Cape May Housing Inc reported income of $51k and spending of $107k, spending 210% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $60k to $51k (-15%), an average of -4.1% a year. Over the whole period it spent 163% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Arc Cape May Housing Inc sits at the 11th percentile: it is larger than about 11% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 26th percentile within NJ. Charities of a similar size with the same main cause include Community Apartments Corporation of Carteret County ($51k), Kalamazoo Area Housing Corporation ($51k) and Greater Local Neighborhoods Community Development Corporation ($51k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 48% and program service revenue 52% of the total. At year end it held assets of $722k against liabilities of $1.1m, net assets of -$371k.

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.