Cedar Development Inc

Analysis

Cedar Development Inc is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in February 1985, 41 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 September 2023, Cedar Development Inc reported income of $375k and spending of $354k, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $348k to $375k (+7.8%), an average of +1.9% a year. The sharpest change came in the year to September 2021, when income rose by 19%. Over the whole period it spent 99% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cedar Development Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within OH. Charities of a similar size with the same main cause include Cascap Inc ($375k), Cedar Oaks Inc ($375k) and Uc Independent Inc ($374k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 2.8% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $66k (19% of expenses). Other salaries and wages came to $50k. At year end it held assets of $2.0m against liabilities of $69k, net assets of $1.9m. It reported 7 employees.