Cedar Lake Residences Inc

Analysis

Cedar Lake Residences Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in May 1995, 31 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, Cedar Lake Residences Inc reported income of $7.2m and spending of $7.9m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.0m to $7.2m (+3.2%), an average of +0.8% a year. The sharpest change came in the year to December 2021, when income rose by 38%. Over the whole period it spent 103% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cedar Lake Residences Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within KY. Charities of a similar size with the same main cause include Alta Housing ($7.2m), M F Place Inc ($7.2m) and Bethany Methodist Corporation ($7.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.7% and program service revenue 91% of the total. Other salaries and wages came to $4.3m. At year end it held assets of $2.9m against liabilities of $1.9m, net assets of $1.1m.