Cherry Hill Town Center Inc

Analysis

Cherry Hill Town Center Inc is a registered charity in United States, based in Timonium, MD. It received its IRS tax-exemption ruling in March 1946, 80 years ago. Its declared purposes cover community improvement and capacity building, 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, Cherry Hill Town Center Inc reported income of $759k and spending of $942k, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $698k to $759k (+8.8%), an average of +2.1% a year. The sharpest change came in the year to June 2022, when income rose by 241%. Over the whole period it spent 56% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cherry Hill Town Center Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MD. Charities of a similar size with the same main cause include Pittsfield Community Cable Broadcasting Inc ($759k), Watertown Local Development Corporation ($760k) and El Corredor Tecno Economico de Puerto Rico Y El Caribe ($758k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 87% of the total. Other salaries and wages came to $56k. At year end it held assets of $5.0m against liabilities of $2.3m, net assets of $2.8m.