L & T Affordable Housing Urban Renewal Corporation

Analysis

L & T Affordable Housing Urban Renewal Corporation is a registered charity in United States, based in Cliffside Park, NJ. It received its IRS tax-exemption ruling in June 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, L & T Affordable Housing Urban Renewal Corporation reported income of $634k and spending of $356k, leaving 44% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $22k to $634k (+2809%), an average of +208% a year. The sharpest change came in the year to December 2021, when income rose by 3165%. Over the whole period it spent 28% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, L & T Affordable Housing Urban Renewal Corporation sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 78th percentile within NJ. Charities of a similar size with the same main cause include Fisher-Nightingale Houses ($634k), Catholic Housing Corporation of Bethlehem ($635k) and VHVH Inc ($634k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 60% of the total. Other salaries and wages came to $54k. At year end it held assets of $3.1m against liabilities of $1.2m, net assets of $1.9m.