Cumberland Regional Development Corporation

Analysis

Cumberland Regional Development Corporation is a registered charity in United States, based in Cookeville, TN. It received its IRS tax-exemption ruling in January 1997, 29 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 June 2023, Cumberland Regional Development Corporation reported income of $1.2m and spending of $1.4m, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.6m to $1.2m (-27%), an average of -7.5% a year. Over the whole period it spent 105% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cumberland Regional Development Corporation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within TN. Charities of a similar size with the same main cause include WPR Uaw Housing Corporation Inc ($1.2m), Neighbors Helping Neighbors Inc ($1.2m) and Delray Housing Group Inc ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 97% of the total. At year end it held assets of $8.3m against liabilities of $4.5m, net assets of $3.8m.

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.