Independence Communities Inc

Analysis

Independence Communities Inc is a registered charity in United States, based in Conroe, TX. It received its IRS tax-exemption ruling in June 2003, 23 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, Independence Communities Inc reported income of $196k and spending of $239k, spending 122% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $156k to $196k (+25%), an average of +5.8% a year. The sharpest change came in the year to December 2021, when income rose by 17%. Over the whole period it spent 129% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Independence Communities Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 57th percentile within TX. Charities of a similar size with the same main cause include Habitat for Humanity International ($195k), Church Alliance of Millbrook Housing Development Inc ($196k) and Bethany Villa Housing Association Incorporated II ($195k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $66k. At year end it held assets of $882k against liabilities of $21k, net assets of $861k. It reported 2 employees.

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.