Lowell Community Development Corporation

Analysis

Lowell Community Development Corporation is a registered charity in United States, based in Fresno, CA. It received its IRS tax-exemption ruling in November 2014, 12 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lowell Community Development Corporation reported income of $1.1m and spending of $237k, leaving 78% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $179k to $1.1m (+509%), an average of +57% a year. The sharpest change came in the year to December 2022, when income rose by 485%. Over the whole period it spent 26% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lowell Community Development Corporation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within CA. Charities of a similar size with the same main cause include Cayuga County Homsite Development Corp ($1.1m), Stepstone Inc ($1.1m) and Encore West Residence Housing Development Fund Corporation ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 102% of the total. Compensation of current officers, directors and key employees was $64k (27% of expenses). Other salaries and wages came to $46k. At year end it held assets of $2.6m against liabilities of $56k, net assets of $2.5m. It reported 4 employees.