Abilities at Cumberland Towers Inc

Analysis

Abilities at Cumberland Towers Inc is a registered charity in United States, based in Clearwater, FL. It received its IRS tax-exemption ruling in February 2008, 18 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 June 2023, Abilities at Cumberland Towers Inc reported income of $109k and spending of $151k, spending 138% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $89k to $109k (+22%), an average of +6.9% a year. Over the whole period it spent 140% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Abilities at Cumberland Towers Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 43rd percentile within FL. Charities of a similar size with the same main cause include New Life Estates Inc ($109k), Arcadia Courtside Inc ($109k) and Joseph Michalowski Housing Corporation ($109k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $29k. At year end it held assets of $1.0m against liabilities of $1.5m, net assets of -$510k.

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.