Lacasa Development Corporation

Analysis

Lacasa Development Corporation is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in June 2001, 25 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 2024, Lacasa Development Corporation reported income of $384k and spending of $589k, spending 153% of what it took in. Across the 4 years on record, from June 2020 to June 2024, income fell from $412k to $384k (-7.0%), an average of -2.4% a year. Over the whole period it spent 142% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lacasa Development Corporation sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 62nd percentile within RI. Charities of a similar size with the same main cause include South Eastern North Carolina Community Development Corporation ($383k), Vermont Village Community Development Corporation Inc ($384k) and Waynesboro Area Refuge Ministry Inc ($383k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 37% and program service revenue 62% of the total. Other salaries and wages came to $103k. At year end it held assets of $3.9m against liabilities of $6.4m, net assets of -$2.5m.

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.