Las Palmas Housing and Developement Corporation

Analysis

Las Palmas Housing and Developement Corporation is a registered charity in United States, based in Encinitas, CA. It received its IRS tax-exemption ruling in December 2001, 25 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 Palmas Housing and Developement Corporation reported income of $1.0m and spending of $446k, leaving 56% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $398k to $1.0m (+157%), an average of +27% a year. The sharpest change came in the year to December 2022, when income rose by 170%. Over the whole period it spent 46% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Las Palmas Housing and Developement 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 79th percentile, and in the 80th percentile within CA. Charities of a similar size with the same main cause include New Foundations Transitional Living ($1.0m), Jason Lee Manor ($1.0m) and Serenity Suites Senior Living at Wabasso ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 24% and program service revenue 63% of the total. At year end it held assets of $3.5m against liabilities of $0, net assets of $3.5m.