Cass Corridor Neighborhood Development Corporation

Analysis

Cass Corridor Neighborhood Development Corporation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in April 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, Cass Corridor Neighborhood Development Corporation reported income of $1.4m and spending of $1.5m, spending 106% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $339k to $1.4m (+320%), an average of +43% a year. The sharpest change came in the year to September 2023, when income rose by 217%. Over the whole period it spent 117% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cass Corridor Neighborhood Development Corporation 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 83rd percentile, and in the 83rd percentile within MI. Charities of a similar size with the same main cause include Nova-Ro Corporation ($1.4m), NCJC Housing & Development Foundation ($1.4m) and NC Orange Senior Housing Corp ($1.4m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 32% of the total. Compensation of current officers, directors and key employees was $103k (6.8% of expenses). Other salaries and wages came to $32k. At year end it held assets of $2.9m against liabilities of $351k, net assets of $2.5m. It reported 5 employees.

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.