L&b Community Development Corporation

Analysis

L&b Community Development Corporation is a registered charity in United States, based in Birmingham, AL. It received its IRS tax-exemption ruling in March 2015, 11 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, L&b Community Development Corporation reported income of $825k and spending of $542k, leaving 34% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $372k to $825k (+122%), an average of +22% a year. The sharpest change came in the year to December 2022, when income rose by 168%. Over the whole period it spent 86% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, L&b Community Development Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 80th percentile within AL. Charities of a similar size with the same main cause include Chelsea Piers Foundation ($825k), Freed People ($825k) and Country Care Hospice Inc ($825k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $54k (10% of expenses). Other salaries and wages came to $154k. At year end it held assets of $1.2m against liabilities of $26k, net assets of $1.2m. It reported 11 employees.