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Lumber River Housing Development Incorporated

Tax-deductible

Lumberton, NC501(c)(3)Since 1968HousingEIN 56-0988617

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Provide Housing to qualified low to moderate income families under programs supervised and subsidized by hud.

501(c)(3) charity; gifts are tax-deductible.
71¢ of each $1 spent went to programs.
Run by 8 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $66K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.3M
104% of total assets
Concern: liabilities are 104% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$821K
+1% vs prior year
Spent
$794K
To programs
71%
Net assets
−$51K
By yearFY2020–FY2024
Revenue
$821K
FY2024▲ +1%
Revenue by fiscal year
FY2020$735K
FY2021$764K
FY2022$719K
FY2023$809K
FY2024$809K
FY2024$821K
Expenses
$794K
FY2024▲ +13%
Expenses by fiscal year
FY2020$689K
FY2021$732K
FY2022$729K
FY2023$655K
FY2024$701K
FY2024$794K
Net assets
−$51K
FY2024▲ +35%
Net assets by fiscal year
FY2020−$385K
FY2021−$353K
FY2022−$340K
FY2023−$185K
FY2024−$78K
FY2024−$51K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1974.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $561K Management & general 29% · $233K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Dr Thomas Jones
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Lumber River Housing Development Incorporated executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers subsidized housing to low-to-moderate income families through HUD programs.

Provided by the organization

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1 program · $561K · in their own filed words · FY2024
01

Provide housing to qualified low to moderate income families under programs supervised and subsidized by hud.

$561Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$821K
Ln 12
Gifts and grantsLn 1h$601K
Fees for servicesLn 2g$210K
Other incomeLn 4–11$9K
Money outPt IX
$794K
Ln 25
Programscol B$561K
Managementcol C$233K
Owns and owesPt X
−$51K
net assets · Ln 32
Cash and savingsLn 1–2$43K
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$601K
Government grantsLn 1e$601K
Fees for servicesLn 2g$210K
Investment incomeLn 3$370
Other incomeLn 4–11$9K
Total revenueLn 12$821K
Assets in detailPt X, end of year
CashLn 1$43K
Cash and savings togetherLn 1–2$43K
InvestmentsLn 11–13$678K
Land, buildings, equipmentLn 10c$412K
Other assetsLn 15$23K
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.3M
Net assetsLn 32−$51K
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$31K$43K
InvestmentsLn 11–13$633K$678K
Land, buildings, equipmentLn 10c$422K$412K
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$1.3M$1.3M
Net assetsLn 32−$78K−$51K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$187K$108K$79K
Other employee benefitsLn 9$23K$23K
Payroll taxesLn 10$15K$15K
Management feesLn 11a$59K$59K
Legal feesLn 11b$593$593
Accounting feesLn 11c$30K$30K
Other fees for servicesLn 11g$115K$115K
Advertising and promotionLn 12$410$410
Office expensesLn 13$21K$21K
OccupancyLn 16$25K$25K
InterestLn 20$37K$37K
Depreciation, depletion and amortizationLn 22$51K$51K
InsuranceLn 23$128K$128K
Other expenses (24a–d)Ln 24$94K$56K$38K
All other expensesLn 24e$9K$3K$5K
Total functional expensesLn 25$794K$561K$233K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $809K$701K$108K−$78K 990 PDF
FY2023 $809K$655K$155K−$185K 990 PDF
FY2022 $719K$729K−$10K−$340K 990 PDF
FY2021 $764K$732K$32K−$353K 990 PDF
FY2020 $735K$689K$46K−$385K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (5 parts)
Part I · Summary $820,730 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $571,084$601,397
I-9 Program service revenuePrior year $237,147$209,619
I-10 Investment incomePrior year $325$370
I-11 Other revenuePrior year $610$9,344
I-12 Total revenuePrior year $809,166$820,730
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $170,349$225,064
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $531,048$568,612
I-18 Total expensesPrior year $701,397$793,676
I-19 Revenue less expensesPrior year $107,769$27,054
Part VIII · Statement of revenue $820,730 across 6 lines filed
VIII-1e Government grants$601,397
VIII-1h Total contributions, gifts and grants$601,397
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $209,619$209,619
VIII-3 Investment incomeExcluded from tax $370$370
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $9,344$9,344
VIII-12 Total revenueRelated to mission $218,963 · Unrelated business $0 · Excluded from tax $370$820,730
Part IX · Statement of functional expenses $793,676 across 15 lines filed
IX-7 Other salaries and wagesPrograms $107,969 · Management $78,673$186,642
IX-9 Other employee benefitsPrograms $23,253$23,253
IX-10 Payroll taxesPrograms $15,169$15,169
IX-11a Management feesManagement $59,431$59,431
IX-11b Legal feesManagement $593$593
IX-11c Accounting feesManagement $30,446$30,446
IX-11g Other fees for servicesPrograms $114,705$114,705
IX-12 Advertising and promotionManagement $410$410
IX-13 Office expensesManagement $20,671$20,671
IX-16 OccupancyPrograms $24,821$24,821
IX-20 InterestPrograms $36,522$36,522
IX-22 Depreciation, depletion and amortizationPrograms $50,527$50,527
IX-23 InsurancePrograms $128,034$128,034
IX-24 Other expenses (24a–d)Programs $56,338 · Management $37,536$93,874
IX-24e All other expensesPrograms $3,192 · Management $5,386$8,578
IX-25 Total functional expensesPrograms $560,530 · Management $233,146 · Fundraising $0$793,676
Part X · Balance sheet $1,224,806 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $31,001$42,720
X-4 Accounts receivableStart of year $15,653$15,942
X-9 Prepaid expenses and deferred chargesStart of year $53,929$53,332
X-10c Land, buildings and equipment, netStart of year $422,212$411,732
X-13 Program-related investmentsStart of year $633,285$678,421
X-15 Other assetsStart of year $22,587$22,659
X-16 Total assetsStart of year $1,178,667$1,224,806
X-17 Accounts payable and accrued expensesStart of year $286,925$140,182
X-19 Deferred revenueStart of year $9,263$9,947
X-25 Other liabilitiesStart of year $22,094$20,274
X-26 Total liabilitiesStart of year $1,256,374$1,275,459
X-27 Net assets without donor restrictionsStart of year −$77,707−$50,653
X-32 Total net assets or fund balancesStart of year −$77,707−$50,653
X-33 Total liabilities and net assetsStart of year $1,178,667$1,224,806
Part XI · Reconciliation of net assets −$50,653 net assets at year end
XI-1 Total revenue$820,730
XI-2 Total expenses$793,676
XI-3 Revenue less expenses$27,054
XI-4 Net assets at start of year−$77,707
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$50,653

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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