Morrow Chase Housing Inc

Analysis

Morrow Chase Housing Inc is a registered charity in United States, based in Dunn, NC. It received its IRS tax-exemption ruling in March 2012, 14 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, Morrow Chase Housing Inc reported income of $246k and spending of $401k, spending 163% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $232k to $246k (+6.2%), an average of +1.5% a year. Over the whole period it spent 162% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Morrow Chase Housing Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 56th percentile within NC. Charities of a similar size with the same main cause include Minnesota Attainable Housing Corporation ($246k), Champion Athletes of the Ozarks ($246k) and Pleasant Park Community Inc ($246k).

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 $72k. At year end it held assets of $3.8m against liabilities of $5.6m, net assets of -$1.8m.

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.