First Baptist Housing Development Corporation I

Analysis

First Baptist Housing Development Corporation I is a registered charity in United States, based in Lumberton, NC. It received its IRS tax-exemption ruling in May 1985, 41 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 Corporation I reported income of $321k and spending of $307k, spending 96% of its income. Across the 5 years on record, from March 2020 to March 2024, income grew from $294k to $321k (+9.1%), an average of +2.2% a year. Over the whole period it spent 105% 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 Corporation I sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 62nd percentile within NC. Charities of a similar size with the same main cause include Cote Brilliante Presbyterian Church Housing Corporation ($321k), Beautiful Life ($321k) and Station Creek Retirement Community Inc ($321k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 67% and program service revenue 32% of the total. At year end it held assets of $1.2m against liabilities of $1.0m, net assets of $192k.