George J Leake Housing Inc

Analysis

George J Leake Housing Inc is a registered charity in United States, based in Washington, NC. It received its IRS tax-exemption ruling in July 2002, 24 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, George J Leake Housing Inc reported income of $378k and spending of $446k, spending 118% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $280k to $378k (+35%), an average of +7.7% a year. Over the whole period it spent 124% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, George J Leake Housing Inc 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 64th percentile within NC. Charities of a similar size with the same main cause include Heart of Iowa Regional Housing Trust Fund ($378k), Friendly Acres Inc ($378k) and Woodrow Wilson Gardens Inc ($378k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. At year end it held assets of $1.4m against liabilities of $3.0m, net assets of -$1.6m.

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.