Salisbury Community Development Corporation

Analysis

Salisbury Community Development Corporation is a registered charity in United States, based in Salisbury, NC. It received its IRS tax-exemption ruling in September 1985, 41 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Salisbury Community Development Corporation reported income of $671k and spending of $620k, spending 92% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $365k to $671k (+84%), an average of +22% a year. The sharpest change came in the year to June 2022, when income rose by 138%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Salisbury Community Development Corporation sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within NC. Charities of a similar size with the same main cause include Our Place Nashville ($671k), Mhany 1999 Housing Development Fund Corporation ($671k) and Harry & Jeanette Weinberg Place Inc ($671k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 7.9% of the total. Compensation of current officers, directors and key employees was $100k (16% of expenses). Other salaries and wages came to $145k. At year end it held assets of $2.8m against liabilities of $1.9m, net assets of $893k. It reported 6 employees.