Frayser Community Development Corporation

Analysis

Frayser Community Development Corporation is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in October 2000, 26 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 December 2023, Frayser Community Development Corporation reported income of $1.6m and spending of $1.9m, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.1m to $1.6m (-24%), an average of -6.8% a year. The sharpest change came in the year to December 2022, when income rose by 146%. Over the whole period it spent 104% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Frayser Community Development Corporation sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within TN. Charities of a similar size with the same main cause include First Baptist Church Housing Association ($1.6m), Alice Manor Inc ($1.6m) and American Lutheran Community Services Inc ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 38% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $7,813 (0.4% of expenses). Other salaries and wages came to $316k. At year end it held assets of $6.2m against liabilities of $1.3m, net assets of $4.9m. It reported 9 employees.

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.