Las Villas de Magnolia Inc

Analysis

Las Villas de Magnolia Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in August 2005, 21 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, Las Villas de Magnolia Inc reported income of $455k and spending of $624k, spending 137% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $348k to $455k (+31%), an average of +6.9% a year. The sharpest change came in the year to December 2023, when income rose by 19%. Over the whole period it spent 150% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Las Villas de Magnolia Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 73rd percentile within TX. Charities of a similar size with the same main cause include H V Real Estate Holdings Inc ($455k), Coalition for Attainable Homes Inc ($455k) and RJ Barrett Manor Housing Development Fund Co Inc ($455k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $118k. At year end it held assets of $3.4m against liabilities of $465k, net assets of $2.9m.

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.