Loretto Apartments Housing Development Fund Co Inc

Analysis

Loretto Apartments Housing Development Fund Co Inc is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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 Apartments Housing Development Fund Co Inc reported income of $358k and spending of $475k, spending 132% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $330k to $358k (+8.5%), an average of +2.1% a year. Over the whole period it spent 130% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Loretto Apartments Housing Development Fund Co Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 61st percentile within NY. Charities of a similar size with the same main cause include Springfield Regional Medical Center Auxiliary ($358k), Community Playground of Columbia Inc ($358k) and Pajaro Valley Arts Council ($358k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $37k. At year end it held assets of $1.6m against liabilities of $40k, net assets of $1.6m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.