Lumberton Economic Advancement for Downtown Inc

Analysis

Lumberton Economic Advancement for Downtown Inc is a registered charity in United States, based in Lumberton, NC. It received its IRS tax-exemption ruling in July 2022, 4 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Lumberton Economic Advancement for Downtown Inc reported income of $74k and spending of $74k, spending 100% of its income. Across the 2 years on record, from June 2023 to June 2024, income fell from $99k to $74k (-26%), an average of -26% a year. The sharpest change came in the year to June 2024, when income dropped by 26%. Over the whole period it spent 71% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lumberton Economic Advancement for Downtown Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 27th percentile within NC. Charities of a similar size with the same main cause include Ft Squared CDC ($74k), Nazareth Downtown Association Inc ($74k) and National Charity League Richardson Area Chapter ($73k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $50k against liabilities of $0, net assets of $50k.