Local Initiatives Support Corporation

Analysis

Local Initiatives Support Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1980, 46 years ago. 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Local Initiatives Support Corporation reported income of $373.1m and spending of $372.8m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $202.1m to $373.1m (+85%), an average of +17% a year. The sharpest change came in the year to December 2020, when income rose by 129%. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Local Initiatives Support Corporation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within NY. Charities of a similar size with the same main cause include Common Fund for Non-Profit Organizations ($306.9m), National Center for Manufacturing Sciences ($427.6m) and Halifax Staffing Inc ($295.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $14.8m (4.0% of expenses). Other salaries and wages came to $63.5m. It paid $127k in professional fundraising fees. At year end it held assets of $1.52bn against liabilities of $981.4m, net assets of $534.6m. It reported 877 employees.