Cherokee Housing Corporation

Analysis

Cherokee Housing Corporation is a registered charity in United States, based in Birmingham, AL. It received its IRS tax-exemption ruling in August 1989, 37 years ago. 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 September 2023, Cherokee Housing Corporation reported income of $477k and spending of $504k, spending 106% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $684k to $477k (-30%), an average of -8.6% a year. The sharpest change came in the year to September 2020, when income dropped by 39%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cherokee Housing Corporation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 72nd percentile within AL. Charities of a similar size with the same main cause include The International Solid Rock Inc ($477k), AFC Community Development Corporation ($477k) and Perry County Non-Profit Housing Corporation ($477k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 70% and program service revenue 29% of the total. Other salaries and wages came to $87k. At year end it held assets of $994k against liabilities of $1.8m, net assets of -$788k.

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.