Lumber River Development Corp

Analysis

Lumber River Development Corp is a registered charity in United States, based in Pembroke, NC. It received its IRS tax-exemption ruling in May 2000, 26 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Lumber River Development Corp reported income of $84k and spending of $90k, spending 108% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $65k to $84k (+28%), an average of +5.1% a year. The sharpest change came in the year to June 2023, when income rose by 49%. Over the whole period it spent 114% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lumber River Development Corp sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 30th percentile within NC. Charities of a similar size with the same main cause include National Women Veterans United ($84k), Virginia Fccla Leadership Foundation Inc ($84k) and Rotary Club of Clearwater Charities Inc ($84k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 65% and program service revenue 35% of the total. At year end it held assets of $214k against liabilities of $286k, net assets of -$72k.

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.