Lake Agassiz Housing Corporation

Analysis

Lake Agassiz Housing Corporation is a registered charity in United States, based in Fargo, ND. It received its IRS tax-exemption ruling in March 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, Lake Agassiz Housing Corporation reported income of $539k and spending of $524k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $483k to $539k (+12%), an average of +2.8% a year. The sharpest change came in the year to December 2021, when income rose by 45%. Over the whole period it spent 106% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lake Agassiz Housing Corporation sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 68th percentile within ND. Charities of a similar size with the same main cause include St John Fruit Belt Community Development Corporation ($539k), Delaware Community Investment Corporation ($539k) and L U L a C Oak Hill Inc ($539k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 99% of the total. At year end it held assets of $2.7m against liabilities of $2.6m, net assets of $100k.