Coastal Housing Corporation

Analysis

Coastal Housing Corporation is a registered charity in United States, based in Christiansbrg, VA. It received its IRS tax-exemption ruling in May 1990, 36 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Coastal Housing Corporation reported income of $787k and spending of $1.1m, spending 136% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $721k to $787k (+9.2%), an average of +2.2% a year. Over the whole period it spent 120% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Coastal Housing Corporation sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 77th percentile within VA. Charities of a similar size with the same main cause include Pccoa Housing Authority ($787k), Peter Maurin House Inc Dba Hope House ($788k) and Beverly-Vermont Community Land Trust ($787k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $148k. At year end it held assets of $1.9m against liabilities of $448k, net assets of $1.4m.

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.