Cherrywood Village

Analysis

Cherrywood Village is a registered charity in United States, based in Grand Forks, ND. It received its IRS tax-exemption ruling in March 2013, 13 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cherrywood Village reported income of $195k and spending of $382k, spending 196% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $184k to $195k (+5.5%), an average of +1.8% a year. Over the whole period it spent 190% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cherrywood Village sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 46th percentile within ND. Charities of a similar size with the same main cause include S&d PJ Housing ($194k), Four Corners Community Development Corporation ($195k) and Mary Lee Flagship ($194k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 38% and program service revenue 61% of the total. At year end it held assets of $3.6m against liabilities of $4.3m, net assets of -$685k.

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.