Coastal Affordable Housing

Analysis

Coastal Affordable Housing is a registered charity in United States, based in Hope, ME. It received its IRS tax-exemption ruling in May 1994, 32 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 December 2023, Coastal Affordable Housing reported income of $753k and spending of $850k, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $381k to $753k (+98%), an average of +19% a year. The sharpest change came in the year to December 2020, when income rose by 79%. Over the whole period it spent 114% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Coastal Affordable Housing sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within ME. Charities of a similar size with the same main cause include 1114 Morris Avenue Housing Development Fund Corp ($753k), Bluehub Capital Inc ($754k) and Renovation Alliance ($753k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% and program service revenue 38% of the total. Other salaries and wages came to $43k. At year end it held assets of $2.0m against liabilities of $2.5m, net assets of -$480k.

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.