Community Loan Center of the Heart of Texas

Analysis

Community Loan Center of the Heart of Texas is a registered charity in United States, based in Waco, TX. It received its IRS tax-exemption ruling in April 2016, 10 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Community Loan Center of the Heart of Texas reported income of $122k and spending of $145k, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $127k to $122k (-3.9%), an average of -1.0% a year. The sharpest change came in the year to December 2021, when income rose by 82%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Community Loan Center of the Heart of Texas sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 45th percentile within TX. Charities of a similar size with the same main cause include Cranberry Community Uniting People Cranberry Cup ($122k), District Export Council of Southern California ($122k) and Missouri Employment & Training Association ($122k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $645k against liabilities of $481k, net assets of $164k.