City of Lubbock Housing Initiatives

Analysis

City of Lubbock Housing Initiatives is a registered charity in United States, based in Lubbock, TX. It received its IRS tax-exemption ruling in January 2020, 6 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, City of Lubbock Housing Initiatives reported income of $514k and spending of $538k, spending 105% of its income. Across the 4 years on record, from September 2020 to September 2023, income grew from $393k to $514k (+31%), an average of +9.4% a year. The sharpest change came in the year to September 2022, when income rose by 339%. Over the whole period it spent 111% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, City of Lubbock Housing Initiatives sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 75th percentile within TX. Charities of a similar size with the same main cause include Ludden Housing Development Fund Company Inc ($514k), Shaarey Zedek Housing Development Fund Corporation ($515k) and Senior Affordable Housing Corp No 2 ($514k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 92% of the total. Other salaries and wages came to $94k. At year end it held assets of $4.0m against liabilities of $894k, net assets of $3.1m.