Carteret Housing and Development Corporation

Analysis

Carteret Housing and Development Corporation is a registered charity in United States, based in Carteret, NJ. It received its IRS tax-exemption ruling in November 2023, 3 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, Carteret Housing and Development Corporation reported income of $100k and spending of $51k, leaving 49% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $32k to $100k (+213%), an average of +33% a year. The sharpest change came in the year to December 2020, when income rose by 211%. Over the whole period it spent 82% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Carteret Housing and Development Corporation sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 45th percentile within NJ. Charities of a similar size with the same main cause include Next Step Housing Inc ($100k), Elk County Housing Options Inc ($100k) and Coto de Casa Inc ($100k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $1.3m against liabilities of $0, net assets of $1.3m.