The Lighthouse Voc-Ed Center Inc

Analysis

The Lighthouse Voc-Ed Center Inc is a registered charity in United States, based in Old Mystic, CT. It received its IRS tax-exemption ruling in July 1993, 33 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, The Lighthouse Voc-Ed Center Inc reported income of $5.4m and spending of $4.8m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.9m to $5.4m (+83%), an average of +16% a year. The sharpest change came in the year to June 2023, when income rose by 29%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Lighthouse Voc-Ed Center Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within CT. Charities of a similar size with the same main cause include Shepherds Pantry ($5.4m), Envision Inc ($5.4m) and Howard Area Community Center ($5.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 34% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $122k (2.5% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $6.9m against liabilities of $2.9m, net assets of $4.0m. It reported 119 employees.