Cedar Crest Village LLC

Analysis

Cedar Crest Village LLC is a registered charity in United States, based in Catonsville, MD. It received its IRS tax-exemption ruling in February 2001, 25 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, Cedar Crest Village LLC reported income of $106.7m and spending of $113.3m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $91.5m to $106.7m (+17%), an average of +3.9% a year. The sharpest change came in the year to December 2021, when income rose by 26%. Over the whole period it spent 109% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cedar Crest Village LLC sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MD. Charities of a similar size with the same main cause include NDC Housing and Economic Development Corporation ($101.5m), Weingart Center Association ($107.0m) and Phipps Houses ($101.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.0% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $454k (0.4% of expenses). Other salaries and wages came to $34.5m. At year end it held assets of $482.0m against liabilities of $572.7m, net assets of -$90.7m. It reported 1,336 employees.

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.