Phi Lambda Educational and Community Foundation Inc

Analysis

Phi Lambda Educational and Community Foundation Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in June 1998, 28 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 2022, Phi Lambda Educational and Community Foundation Inc reported income of $78k and spending of $54k, leaving 30% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $16k to $78k (+376%), an average of +68% a year. The sharpest change came in the year to December 2022, when income rose by 254%. Over the whole period it spent 93% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Phi Lambda Educational and Community Foundation Inc sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 28th percentile within NC. Charities of a similar size with the same main cause include Family Promise of Newrock ($78k), Hudson Housing Corporation ($78k) and Allied Services Continuing Careretirement Community ($78k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 79% of the total. At year end it held assets of $312k against liabilities of $0, net assets of $312k.