Eastern Eight Community Development Corporation

Analysis

Eastern Eight Community Development Corporation is a registered charity in United States, based in Johnson City, TN. It received its IRS tax-exemption ruling in February 1999, 27 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, Eastern Eight Community Development Corporation reported income of $4.0m and spending of $4.1m, spending 102% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $6.4m to $4.0m (-37%), an average of -14% a year. The sharpest change came in the year to June 2021, when income dropped by 42%. Over the whole period it spent 85% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Eastern Eight Community Development Corporation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within TN. Charities of a similar size with the same main cause include Camba Housing Ventures Inc ($4.0m), Habitat for Humanity International Inc ($4.0m) and 360 Management Group Co ($4.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 25% and program service revenue 75% of the total. Other salaries and wages came to $789k. At year end it held assets of $17.9m against liabilities of $5.2m, net assets of $12.7m. It reported 16 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.