Century Affordable Development Inc

Analysis

Century Affordable Development Inc is a registered charity in United States, based in Culver City, CA. It received its IRS tax-exemption ruling in March 1998, 28 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 December 2023, Century Affordable Development Inc reported income of $15.9m and spending of $4.0m, leaving 75% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.4m to $15.9m (+262%), an average of +38% a year. The sharpest change came in the year to December 2020, when income rose by 298%. Over the whole period it spent 29% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Century Affordable Development Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within CA. Charities of a similar size with the same main cause include Columbus House ($15.8m), Bridge Property Management Company ($15.9m) and Burbank Housing Development Corporation ($15.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 46% of the total. Other salaries and wages came to $2.5m. At year end it held assets of $70.4m against liabilities of $12.5m, net assets of $57.9m.