Cathedral Towers Inc

Analysis

Cathedral Towers Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in August 1977, 49 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Cathedral Towers Inc reported income of $3.8m and spending of $3.2m, spending 85% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $3.1m to $3.8m (+22%), an average of +6.9% a year. The sharpest change came in the year to December 2022, when income rose by 22%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cathedral Towers Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 92nd percentile within GA. Charities of a similar size with the same main cause include Rebuilding Together DC Alexandria ($3.8m), Womens Center ($3.8m) and The Cayuga County Community College Foundation Inc ($3.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 73% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $112k (3.5% of expenses). Other salaries and wages came to $680k. At year end it held assets of $7.5m against liabilities of $4.0m, net assets of $3.5m. It reported 14 employees.