Libbies Place

Analysis

Libbies Place is a registered charity in United States, based in Galveston, TX. It received its IRS tax-exemption ruling in July 2002, 24 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Libbies Place reported income of $547k and spending of $446k, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $488k to $547k (+12%), an average of +2.9% a year. The sharpest change came in the year to December 2021, when income rose by 98%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Libbies Place sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within TX. Charities of a similar size with the same main cause include United States-Philippines Society Inc ($547k), Harmony Village Inc ($547k) and Judson Center Foundation ($547k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $65k (15% of expenses). Other salaries and wages came to $204k. At year end it held assets of $594k against liabilities of $13k, net assets of $581k. It reported 18 employees.