Cinnaire Lending Corporation

Analysis

Cinnaire Lending Corporation is a registered charity in United States, based in Lansing, MI. It received its IRS tax-exemption ruling in June 2004, 22 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 December 2023, Cinnaire Lending Corporation reported income of $17.0m and spending of $10.4m, leaving 39% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.0m to $17.0m (+113%), an average of +21% a year. The sharpest change came in the year to December 2023, when income rose by 34%. Over the whole period it spent 70% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cinnaire Lending Corporation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MI. Charities of a similar size with the same main cause include Do Good Multnomah ($17.0m), Lantern Organization Inc ($17.0m) and California Community Reinvestment Corporation ($17.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 51% and program service revenue 45% of the total. Other salaries and wages came to $5.5m. At year end it held assets of $130.9m against liabilities of $92.4m, net assets of $38.5m.