Lagoon Beach Residents Association Inc

Analysis

Lagoon Beach Residents Association Inc is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in October 1992, 34 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, Lagoon Beach Residents Association Inc reported income of $330k and spending of $485k, spending 147% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $293k to $330k (+13%), an average of +3.0% a year. Over the whole period it spent 142% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lagoon Beach Residents Association Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 60th percentile within CO. Charities of a similar size with the same main cause include Miracle Mile Senior Citizen Housing Corporation ($330k), Papilion House Inc ($330k) and LBB Corp ($330k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 83% of the total. At year end it held assets of $2.4m against liabilities of $5.0m, net assets of -$2.6m.

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.