Central Terrace

Analysis

Central Terrace is a registered charity in United States, based in Spokane, WA. It received its IRS tax-exemption ruling in April 1982, 44 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 May 2023, Central Terrace reported income of $263k and spending of $269k, spending 102% of its income. Across the 4 years on record, from May 2020 to May 2023, income fell from $543k to $263k (-51%), an average of -21% a year. The sharpest change came in the year to May 2022, when income rose by 97%. Over the whole period it spent 58% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Central Terrace sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 57th percentile within WA. Charities of a similar size with the same main cause include Afghan Elderly Association ($263k), Trinity Landholding Corporation ($263k) and Hart Residences Inc ($263k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 63% and program service revenue 36% of the total. Other salaries and wages came to $39k. At year end it held assets of $803k against liabilities of $793k, net assets of $10k.