Community Asset Foundation

Analysis

Community Asset Foundation is a registered charity in United States, based in Chaska, MN. It received its IRS tax-exemption ruling in March 2011, 15 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 June 2023, Community Asset Foundation reported income of $4.3m and spending of $5.0m, spending 114% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.4m to $4.3m (+26%), an average of +6.0% a year. The sharpest change came in the year to June 2020, when income rose by 23%. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Community Asset Foundation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within MN. Charities of a similar size with the same main cause include Lincoln Village Preservation Corporation ($4.3m), Del Norte Neighborhood Development Corporation ($4.3m) and Mississippi High School Activities ($4.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. At year end it held assets of $13.1m against liabilities of $16.4m, net assets of -$3.2m.

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.