Friends of Lexington Preservation

Analysis

Friends of Lexington Preservation is a registered charity in United States, based in Lexington, MS. It received its IRS tax-exemption ruling in July 2020, 6 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Friends of Lexington Preservation reported income of $57k and spending of $34k, leaving 40% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $69k to $57k (-17%), an average of -17% a year. The sharpest change came in the year to December 2023, when income dropped by 17%. Over the whole period it spent 66% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Friends of Lexington Preservation sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 23rd percentile within MS. Charities of a similar size with the same main cause include Tarrytown Police Benevolent Association Inc ($57k), Business-Industry Foundation of Western Connecticut Inc ($57k) and East Isles Neighborhood Association ($57k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $44k against liabilities of $0, net assets of $44k.