Lakewood Housing Corporation

Analysis

Lakewood Housing Corporation is a registered charity in United States, based in Lakewood, CO. It received its IRS tax-exemption ruling in December 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 December 2023, Lakewood Housing Corporation reported income of $2.3m and spending of $2.0m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $118k to $2.3m (+1845%), an average of +110% a year. The sharpest change came in the year to December 2023, when income rose by 1593%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lakewood Housing Corporation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within CO. Charities of a similar size with the same main cause include P V Community Development Corporation ($2.3m), Dallas Neighborhood Alliance for Habitat ($2.3m) and Family Promise of Las Vegas ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $55k (2.7% of expenses). Other salaries and wages came to $349k. At year end it held assets of $27.2m against liabilities of $8.5m, net assets of $18.7m.