Caribou Congregate Housing Development Corporation Inc

Analysis

Caribou Congregate Housing Development Corporation Inc is a registered charity in United States, based in Presque Isle, ME. It received its IRS tax-exemption ruling in October 1984, 42 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 September 2023, Caribou Congregate Housing Development Corporation Inc reported income of $222k and spending of $233k, spending 105% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $219k to $222k (+1.3%), an average of +0.3% a year. The sharpest change came in the year to September 2020, when income dropped by 20%. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Caribou Congregate Housing Development Corporation Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 49th percentile within ME. Charities of a similar size with the same main cause include Aaa Elderly Housing-Brett H Bradshaw Manor Inc ($222k), Workforce Housing Coalition of the Greater Seacoast ($222k) and Bay Aging Apartments West Point Inc ($222k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 97% of the total. At year end it held assets of $337k against liabilities of $836k, net assets of -$500k.

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.