Chesapeake Center Inc

Analysis

Chesapeake Center Inc is a registered charity in United States, based in Easton, MD. It received its IRS tax-exemption ruling in February 1968, 58 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 June 2023, Chesapeake Center Inc reported income of $2.1m and spending of $1.2m, leaving 44% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.4m to $2.1m (+47%), an average of +10% a year. The sharpest change came in the year to June 2023, when income rose by 64%. Over the whole period it spent 78% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Chesapeake Center Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MD. Charities of a similar size with the same main cause include Council of State Administrators of Vocational Rehabilitation ($2.1m), Blue Monarch ($2.1m) and Downtown Brooklyn Partnership ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $255k (22% of expenses). At year end it held assets of $10.2m against liabilities of $764k, net assets of $9.4m. It reported 11 employees.