The Well of Lexington Inc

Analysis

The Well of Lexington Inc is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in April 2001, 25 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, The Well of Lexington Inc reported income of $391k and spending of $244k, leaving 38% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $213k to $391k (+84%), an average of +84% a year. The sharpest change came in the year to December 2023, when income rose by 84%. Over the whole period it spent 73% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, The Well of Lexington Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 67th percentile within KY. Charities of a similar size with the same main cause include Family Promise of Bristol ($391k), Baran Place Inc ($391k) and Vinton County Housing Development Corporation ($391k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% of the total. Other salaries and wages came to $94k. At year end it held assets of $303k against liabilities of $0, net assets of $303k. It reported 2 employees.