Lodge at Hover Crossing

Analysis

Lodge at Hover Crossing is a registered charity in United States, based in Longmont, CO. It received its IRS tax-exemption ruling in August 2007, 19 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, Lodge at Hover Crossing reported income of $380k and spending of $541k, spending 142% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $286k to $380k (+33%), an average of +7.3% a year. The sharpest change came in the year to December 2021, when income rose by 17%. 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, Lodge at Hover Crossing 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 63rd percentile within CO. Charities of a similar size with the same main cause include Tri-Cities Terrace I ($380k), Jefferson Housing Inc ($380k) and East Lake Housing Corporation ($380k).

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 $69k. At year end it held assets of $5.2m against liabilities of $6.7m, net assets of -$1.5m.

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.