Lcip III Inc

Analysis

Lcip III Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in November 2017, 9 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 June 2024, Lcip III Inc reported income of $160k and spending of $285k, spending 179% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $164k to $160k (-2.5%), an average of -0.5% a year. Over the whole period it spent 164% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lcip III Inc sits at the 33rd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 46th percentile within PA. Charities of a similar size with the same main cause include Greater Bristol Homes Co ($160k), Building and Construction Trade Group Inc ($160k) and Marian Manor Inc ($159k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 98% of the total. Other salaries and wages came to $54k. At year end it held assets of $2.7m against liabilities of $1.3m, net assets of $1.4m.

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.