Carter Street Corporation

Analysis

Carter Street Corporation is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in March 1982, 44 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 2024, Carter Street Corporation reported income of $12.2m and spending of $10.3m, spending 84% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $7.0m to $12.2m (+75%), an average of +15% a year. The sharpest change came in the year to June 2022, when income rose by 180%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Carter Street Corporation sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within TN. Charities of a similar size with the same main cause include Arab-American Family Support Center Inc ($12.2m), Greenlining Institute ($12.2m) and Worksource Montgomery Inc ($12.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 4.1% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $277k (2.7% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $19.4m against liabilities of $7.4m, net assets of $12.0m. It reported 69 employees.