Fairoaks of Denton Incorporated

Analysis

Fairoaks of Denton Incorporated is a registered charity in United States, based in Denton, TX. It received its IRS tax-exemption ruling in April 1998, 28 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 September 2023, Fairoaks of Denton Incorporated reported income of $503k and spending of $532k, spending 106% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $566k to $503k (-11%), an average of -2.9% a year. The sharpest change came in the year to September 2021, when income rose by 42%. Over the whole period it spent 106% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Fairoaks of Denton Incorporated 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 70th percentile, and in the 75th percentile within TX. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($502k), Lake View Housing Development Fund Corporation ($503k) and Peninsula Housing Development Inc IX ($502k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.6% and program service revenue 98% of the total. Other salaries and wages came to $213k. At year end it held assets of $1.9m against liabilities of $167k, net assets of $1.7m.

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.