Navigator Corporation

Analysis

Navigator Corporation is a registered charity in United States, based in Matthews, NC. It received its IRS tax-exemption ruling in June 1977, 49 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 June 2023, Navigator Corporation reported income of $2.7m and spending of $3.1m, spending 114% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.5m to $2.7m (+10%), an average of +2.5% a year. The sharpest change came in the year to June 2020, when income rose by 32%. Over the whole period it spent 111% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Navigator Corporation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within NC. Charities of a similar size with the same main cause include Penates Inc ($2.7m), Mesa of N Y Inc ($2.7m) and Nehemiah Housing Development Fund Company Inc ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% and program service revenue 41% of the total. At year end it held assets of $11.0m against liabilities of $13.7m, net assets of -$2.7m.

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.