Cape May Project Inc

Analysis

Cape May Project Inc is a registered charity in United States, based in Freehold, NJ. It received its IRS tax-exemption ruling in December 2009, 17 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, Cape May Project Inc reported income of $64k and spending of $81k, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $59k to $64k (+9.4%), an average of +2.3% a year. Over the whole period it spent 127% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cape May Project Inc sits at the 14th percentile: it is larger than about 14% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 32nd percentile within NJ. Charities of a similar size with the same main cause include Mens Sober House of Lufkin Inc ($64k), Community Apartments Corporation of Iredell County ($64k) and Vesta Germantown Inc ($64k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $1.2m against liabilities of $1.4m, net assets of -$241k.

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.