Chesapeake Bay Industries Inc

Analysis

Chesapeake Bay Industries Inc is a registered charity in United States, based in Easton, MD. It received its IRS tax-exemption ruling in June 1986, 40 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Chesapeake Bay Industries Inc reported income of $399k and spending of $599k, spending 150% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $880k to $399k (-55%), an average of -18% a year. The sharpest change came in the year to June 2022, when income dropped by 64%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Chesapeake Bay Industries Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 66th percentile within MD. Charities of a similar size with the same main cause include Youth Employment Program Inc ($398k), St Bernard Economic Development Foundation ($399k) and Motion Palpation Institute Inc ($398k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 18% and program service revenue 13% of the total. Other salaries and wages came to $144k. At year end it held assets of $469k against liabilities of $1.7m, net assets of -$1.2m. It reported 15 employees.