Lormet HDFC

Analysis

Lormet HDFC is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 2026. 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2020, Lormet HDFC reported income of $685k and spending of $599k, spending 87% of its income. Across the 2 years on record, from December 2019 to December 2020, income grew from $653k to $685k (+5.0%), an average of +5.0% a year. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lormet HDFC sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 71st percentile within NY. Charities of a similar size with the same main cause include Elevate Omaha Inc ($685k), Northwest Missouri Industries Inc ($685k) and Barrio Logan Association ($685k).

On its Form 990 for the period ending December 2020, revenue came from program service revenue 100% of the total. At year end it held assets of $2.1m against liabilities of $47k, net assets of $2.0m.