Family Promise of Lubbock Inc

Analysis

Family Promise of Lubbock Inc is a registered charity in United States, based in Lubbock, TX. It received its IRS tax-exemption ruling in February 1999, 27 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, Family Promise of Lubbock Inc reported income of $291k and spending of $394k, spending 136% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $286k to $291k (+1.6%), an average of +0.4% a year. The sharpest change came in the year to December 2020, when income rose by 38%. Over the whole period it spent 115% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Family Promise of Lubbock Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 65th percentile within TX. Charities of a similar size with the same main cause include GCKH Future Fund Inc ($291k), Millingan Housing for Elderly & Handicaped Inc City View Apartment ($291k) and Anson County Homes of Hope ($291k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% of the total. Other salaries and wages came to $201k. At year end it held assets of $751k against liabilities of $4,460, net assets of $747k. It reported 4 employees.

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.