Lambs Residence III Inc

Analysis

Lambs Residence III Inc is a registered charity in United States, based in Libertyville, IL. It received its IRS tax-exemption ruling in September 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 June 2023, Lambs Residence III Inc reported income of $158k and spending of $217k, spending 137% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $150k to $158k (+5.6%), an average of +1.4% a year. Over the whole period it spent 142% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lambs Residence III Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 49th percentile within IL. Charities of a similar size with the same main cause include Urban League of Essex County Opportunity Corporation ($158k), Delta Partners Inc ($158k) and Community Alliance Housing Corporation IV ($158k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $1.6m against liabilities of $1.1m, net assets of $521k.

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.