Paseo de Luz Inc

Analysis

Paseo de Luz Inc is a registered charity in United States, based in Ventura, CA. It received its IRS tax-exemption ruling in April 2010, 16 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 (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, Paseo de Luz Inc reported income of $305k and spending of $633k, spending 207% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $235k to $305k (+30%), an average of +6.7% a year. The sharpest change came in the year to December 2023, when income rose by 23%. Over the whole period it spent 234% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Paseo de Luz Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 64th percentile within CA. Charities of a similar size with the same main cause include Ambassador Senior Residence Inc ($305k), 1051 College Avenue Housing Development Fund Corp ($305k) and Habitat for Humanity International Inc ($305k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 83% of the total. Other salaries and wages came to $42k. At year end it held assets of $7.7m against liabilities of $11.9m, net assets of -$4.3m.

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.