Centre for Home Ownership & Economic Development Corporation I

Analysis

Centre for Home Ownership & Economic Development Corporation I is a registered charity in United States, based in Hillsboro, NC. It received its IRS tax-exemption ruling in October 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2022, Centre for Home Ownership & Economic Development Corporation I reported income of $1.1m and spending of $764k, leaving 31% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $507k to $1.1m (+119%), an average of +30% a year. The sharpest change came in the year to December 2022, when income rose by 73%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Centre for Home Ownership & Economic Development Corporation I sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within NC. Charities of a similar size with the same main cause include Stoughton Extended Day Program Inc ($1.1m), BMG Student Aid Fund Inc ($1.1m) and Unlock Ministries Inc ($1.1m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 78% and program service revenue 5.0% of the total. Compensation of current officers, directors and key employees was $119k (16% of expenses). Other salaries and wages came to $138k. At year end it held assets of $1.0m against liabilities of $351k, net assets of $652k. It reported 2 employees.