Caritas Communities Holdings Inc

Analysis

Caritas Communities Holdings Inc is a registered charity in United States, based in Braintree, MA. It received its IRS tax-exemption ruling in January 2017, 9 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, Caritas Communities Holdings Inc reported income of $2.5m and spending of $2.6m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.0m to $2.5m (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2023, when income rose by 24%. Over the whole period it spent 126% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Caritas Communities Holdings Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within MA. Charities of a similar size with the same main cause include Ohio Capital Impact Corporation ($2.5m), Tri-County HDC Ltd ($2.5m) and Open Doors Homeless Coalition ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.0% and program service revenue 91% of the total. At year end it held assets of $7.8m against liabilities of $11.5m, net assets of -$3.7m.

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.