Community Advancement and Redevelopment Enterprises Inc

Analysis

Community Advancement and Redevelopment Enterprises Inc is a registered charity in United States, based in Monroe, NC. It received its IRS tax-exemption ruling in January 2016, 10 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 December 2023, Community Advancement and Redevelopment Enterprises Inc reported income of $340k and spending of $386k, spending 113% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $53k to $340k (+547%), an average of +154% a year. The sharpest change came in the year to December 2022, when income rose by 472%. 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, Community Advancement and Redevelopment Enterprises Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 63rd percentile within NC. Charities of a similar size with the same main cause include Live Oak Place LLC ($340k), Cleveland County Community Development Corp ($340k) and Pro Labore Dei Inc ($340k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 18% of the total. At year end it held assets of $3.7m against liabilities of $71k, net assets of $3.7m.