Grace Congregate Housing Corporation

Analysis

Grace Congregate Housing Corporation is a registered charity in United States, based in Waterbury, CT. It received its IRS tax-exemption ruling in May 1997, 29 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, Grace Congregate Housing Corporation reported income of $568k and spending of $652k, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $565k to $568k (+0.5%), an average of +0.1% a year. Over the whole period it spent 115% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Grace Congregate Housing Corporation sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 70th percentile within CT. Charities of a similar size with the same main cause include Odessa Methodist Housing Inc ($568k), Neighborhood Renewal Housing Development Fund Corporation ($568k) and Miami Beach Marian Towers Inc ($568k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $88k. At year end it held assets of $3.1m against liabilities of $29k, net assets of $3.1m.

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.