Lucas Housing Services Corporation

Analysis

Lucas Housing Services Corporation is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in August 2013, 13 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, Lucas Housing Services Corporation reported income of $2.0m and spending of $2.1m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $507k to $2.0m (+302%), an average of +42% a year. The sharpest change came in the year to December 2023, when income rose by 126%. Over the whole period it spent 123% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lucas Housing Services Corporation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within OH. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($2.0m), Lihue Court Townhomes Corporation ($2.0m) and Eden Village of Wilmington ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 17% of the total. Other salaries and wages came to $114k. At year end it held assets of $3.4m against liabilities of $632k, net assets of $2.8m.

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.