Community Affordable Housing Equity Corporation

Analysis

Community Affordable Housing Equity Corporation is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in April 1997, 29 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, Community Affordable Housing Equity Corporation reported income of $10.2m and spending of $14.7m, spending 144% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $12.2m to $10.2m (-16%), an average of -4.2% a year. The sharpest change came in the year to December 2023, when income dropped by 23%. 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, Community Affordable Housing Equity Corporation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Chicago Metropolitan Housing Development Corporation ($10.2m), Sholom Community Alliance ($10.3m) and Mercy Haven Inc ($10.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.3% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $3.5m (24% of expenses). Other salaries and wages came to $4.2m. At year end it held assets of $29.9m against liabilities of $7.5m, net assets of $22.4m. It reported 62 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.