Lakewood Housing Inc

Analysis

Lakewood Housing Inc is a registered charity in United States, based in Dunn, NC. It received its IRS tax-exemption ruling in January 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, Lakewood Housing Inc reported income of $166k and spending of $180k, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $143k to $166k (+16%), an average of +3.8% a year. Over the whole period it spent 108% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lakewood Housing Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 47th percentile within NC. Charities of a similar size with the same main cause include Gault Grove Apartments Inc ($166k), Woodside Village VI Inc ($166k) and Booth Manor-Columbus Inc ($166k).

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 $29k. At year end it held assets of $905k against liabilities of $1.5m, net assets of -$574k.

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.