Lowcountry Housing & Redevelopment Corporation

Analysis

Lowcountry Housing & Redevelopment Corporation is a registered charity in United States, based in Beaufort, SC. It received its IRS tax-exemption ruling in February 1997, 29 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 September 2023, Lowcountry Housing & Redevelopment Corporation reported income of $287k and spending of $311k, spending 108% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $144k to $287k (+99%), an average of +19% a year. The sharpest change came in the year to September 2022, when income rose by 28%. Over the whole period it spent 119% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lowcountry Housing & Redevelopment Corporation sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 66th percentile within SC. Charities of a similar size with the same main cause include Chadwick Apartments Inc ($287k), Durham Trinity Corporation ($287k) and Pontchartrain Housing Corp I ($287k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $2.2m against liabilities of $1.5m, net assets of $646k.

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.