Chesapeake Charities Inc

Analysis

Chesapeake Charities Inc is a registered charity in United States, based in Stevensville, MD. It received its IRS tax-exemption ruling in October 2004, 22 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Chesapeake Charities Inc reported income of $3.5m and spending of $2.8m, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.1m to $3.5m (+14%), an average of +3.3% a year. The sharpest change came in the year to December 2022, when income rose by 125%. Over the whole period it spent 70% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Chesapeake Charities Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MD. Charities of a similar size with the same main cause include New Canaan Community Foundation Inc ($3.5m), United Way of Greater Cincinnati Foundation ($3.5m) and Schuylkill Area Community ($3.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 9.8% of the total. Compensation of current officers, directors and key employees was $145k (5.2% of expenses). Other salaries and wages came to $491k. At year end it held assets of $8.5m against liabilities of $122k, net assets of $8.3m. It reported 5 employees.