Lex King Souter Memorial Fund Trust T-701 First Congregational Church

Analysis

Lex King Souter Memorial Fund Trust T-701 First Congregational Church is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in October 1971, 55 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2024, Lex King Souter Memorial Fund Trust T-701 First Congregational Church reported income of $119k and spending of $141k, spending 118% of what it took in. Across the 6 years on record, from July 2019 to July 2024, income fell from $140k to $119k (-15%), an average of -3.1% a year. The sharpest change came in the year to July 2021, when income rose by 179%. Over the whole period it spent 50% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lex King Souter Memorial Fund Trust T-701 First Congregational Church sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 44th percentile within TX. Charities of a similar size with the same main cause include Musculoskeletal Infection Study Group Inc ($119k), Crystal Lake Babe Ruth Baseball League Inc ($119k) and The Fuller Center for Housing Inc ($119k).

Compensation of current officers, directors and key employees was $27k (19% of expenses). At year end it held assets of $3.2m against liabilities of $0, net assets of $3.2m.