Canterbury Place

Analysis

Canterbury Place is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in February 1947, 79 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, Canterbury Place reported income of $14.9m and spending of $20.9m, spending 141% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $12.0m to $14.9m (+24%), an average of +5.5% a year. Over the whole period it spent 142% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Canterbury Place sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within PA. Charities of a similar size with the same main cause include Heading Home ($14.8m), Delta Community Developers Corp ($14.9m) and Caritas Affordable Housing Inc ($14.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.8% and program service revenue 93% of the total. Other salaries and wages came to $7.4m. At year end it held assets of $37.1m against liabilities of $82.9m, net assets of -$45.9m. It reported 228 employees.

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.