LC Fund for Priesty Formation

Analysis

LC Fund for Priesty Formation is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in July 2015, 11 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, LC Fund for Priesty Formation reported income of $9.0m and spending of $10.9m, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $32k to $9.0m (+28202%), an average of +310% a year. The sharpest change came in the year to December 2020, when income rose by 14902%. Over the whole period it spent 63% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, LC Fund for Priesty Formation sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within TX. Charities of a similar size with the same main cause include Friends with Jesus Inc ($8.9m), Christian Light Publications Inc ($9.1m) and Cues Fund ($8.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $10.2m against liabilities of $88k, net assets of $10.1m.