United Way of Lea County Inc

Analysis

United Way of Lea County Inc is a registered charity in United States, based in Hobbs, NM. It received its IRS tax-exemption ruling in September 1970, 56 years ago. 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, United Way of Lea County Inc reported income of $1.3m and spending of $1.2m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $885k to $1.3m (+51%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 20%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, United Way of Lea County Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within NM. Charities of a similar size with the same main cause include C Bar N Mission Board ($1.3m), Connections for Independent Living ($1.3m) and Network of Executive Women in Hospitality Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $73k (6.1% of expenses). Other salaries and wages came to $170k. At year end it held assets of $1.9m against liabilities of $667k, net assets of $1.2m. It reported 5 employees.