Lumber River Housing Development Incorporated

Analysis

Lumber River Housing Development Incorporated is a registered charity in United States, based in Lumberton, NC. It received its IRS tax-exemption ruling in June 1974, 52 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 September 2023, Lumber River Housing Development Incorporated reported income of $809k and spending of $655k, spending 81% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $711k to $809k (+14%), an average of +3.3% a year. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lumber River Housing Development Incorporated sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within NC. Charities of a similar size with the same main cause include Ardmore Housing for the Elderly Inc ($809k), National Housing Institute ($810k) and Orange County Fair Housing ($809k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 69% and program service revenue 30% of the total. Other salaries and wages came to $143k. At year end it held assets of $1.1m against liabilities of $1.3m, net assets of -$185k.