Lathrop Community Inc

Analysis

Lathrop Community Inc is a registered charity in United States, based in Easthampton, MA. It received its IRS tax-exemption ruling in November 1990, 36 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, Lathrop Community Inc reported income of $7.6m and spending of $7.7m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.2m to $7.6m (+24%), an average of +5.5% a year. Over the whole period it spent 109% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lathrop Community Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Congregations for the Homeless ($7.6m), Gurwin Independent Housing Inc ($7.6m) and Jha Assisted Living Inc ($7.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.1% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $351k (4.5% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $20.3m against liabilities of $45.7m, net assets of -$25.5m. It reported 81 employees.

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.