Loretto Independent Living Services Inc

Analysis

Loretto Independent Living Services Inc is a registered charity in United States, based in N Syracuse, NY. It received its IRS tax-exemption ruling in June 1995, 31 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Loretto Independent Living Services Inc reported income of $74.0m and spending of $72.2m, spending 98% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $64.0m to $74.0m (+16%), an average of +5.0% a year. The sharpest change came in the year to December 2023, when income rose by 23%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Loretto Independent Living Services Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Greater Pittsburgh Community Food Bank ($74.0m), United Migrant Opportunity Services Incorporated ($74.1m) and Opportunity Council ($73.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.8% and program service revenue 93% of the total. Other salaries and wages came to $21.9m. At year end it held assets of $32.9m against liabilities of $15.6m, net assets of $17.3m.