First Baptist Housing Development Inc II

Analysis

First Baptist Housing Development Inc II is a registered charity in United States, based in Lumberton, NC. It received its IRS tax-exemption ruling in January 1996, 30 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 March 2024, First Baptist Housing Development Inc II reported income of $226k and spending of $237k, spending 105% of its income. Across the 5 years on record, from March 2020 to March 2024, income grew from $182k to $226k (+24%), an average of +5.6% a year. Over the whole period it spent 123% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, First Baptist Housing Development Inc II 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 56th percentile, and in the 54th percentile within NC. Charities of a similar size with the same main cause include The Army Retirement Residence Foundation-Potomac ($226k), Jewel Lake Senior Housing Inc ($226k) and Soup ($226k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 47% and program service revenue 51% of the total. At year end it held assets of $1.3m against liabilities of $2.4m, net assets of -$1.0m.

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.