Homes for Laurel II Inc

Analysis

Homes for Laurel II Inc is a registered charity in United States, based in Annapolis, MD. It received its IRS tax-exemption ruling in March 2005, 21 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 March 2023, Homes for Laurel II Inc reported income of $170k and spending of $217k, spending 128% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income grew from $149k to $170k (+14%), an average of +4.3% 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, Homes for Laurel II Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 50th percentile within MD. Charities of a similar size with the same main cause include Antioch Homes Housing Development Fund Corp ($170k), Volunteers of America Inc ($170k) and Habitat for Humanity International ($170k).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $1.4m against liabilities of $1.9m, net assets of -$498k.

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.