Centro Social LA Esperanza

Analysis

Centro Social LA Esperanza is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 1972, 54 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3).

In the financial year ending June 2023, Centro Social LA Esperanza reported income of $16.6m and spending of $16.2m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $13.0m to $16.6m (+28%), an average of +6.3% a year. The sharpest change came in the year to June 2023, when income rose by 17%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Centro Social LA Esperanza sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Miracles in Sight ($16.6m), Santa Fe Communications Inc ($16.6m) and Carolina Friends School ($16.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.8% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $112k (0.7% of expenses). Other salaries and wages came to $9.6m. At year end it held assets of $22.1m against liabilities of $17.5m, net assets of $4.6m. It reported 329 employees.