Chelsey Housing Inc

Analysis

Chelsey Housing Inc is a registered charity in United States, based in Dunn, NC. It received its IRS tax-exemption ruling in October 1992, 34 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 December 2023, Chelsey Housing Inc reported income of $266k and spending of $284k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $226k to $266k (+18%), an average of +4.2% a year. Over the whole period it spent 116% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Chelsey Housing Inc sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 58th percentile within NC. Charities of a similar size with the same main cause include Mhany 2012 Housing Development Fund Corporation ($265k), First Impression Inc ($266k) and Heartland Homes for Elderly Inc ($265k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $64k. At year end it held assets of $269k against liabilities of $1.7m, net assets of -$1.4m.

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.