Lumber City Local Development

Analysis

Lumber City Local Development is a registered charity in United States, based in North Tonawanda, NY. It received its IRS tax-exemption ruling in July 2005, 21 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, Lumber City Local Development reported income of $228k and spending of $638k, spending 280% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $448k to $228k (-49%), an average of -16% a year. The sharpest change came in the year to December 2022, when income rose by 227%. Over the whole period it spent 114% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lumber City Local Development sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 54th percentile within NY. Charities of a similar size with the same main cause include The Union of Jamaican Alumni Association USA Inc ($228k), Lawndale Business Renaissance Association ($228k) and Independence Square Main Street ($228k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 4.4% of the total. Compensation of current officers, directors and key employees was $14k (2.3% of expenses). Other salaries and wages came to $29k. At year end it held assets of $795k against liabilities of $20k, net assets of $775k. It reported 1 employees.