Capitol Area Developments Inc

Analysis

Capitol Area Developments Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in June 1990, 36 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 March 2023, Capitol Area Developments Inc reported income of $4.6m and spending of $3.6m, leaving 23% of income unspent that year. Across the 4 years on record, from March 2020 to March 2023, income grew from $4.6m to $4.6m (+0.2%), an average of +0.1% a year. Over the whole period it spent 74% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Capitol Area Developments 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 92nd percentile, and in the 93rd percentile within NC. Charities of a similar size with the same main cause include Rose Community Development Corporation ($4.6m), Hope Communities Inc ($4.6m) and Palestine Gardens North Inc ($4.6m).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $28.3m against liabilities of $4.7m, net assets of $23.5m.