Lakewood Resource and Referral Center Inc

Analysis

Lakewood Resource and Referral Center Inc is a registered charity in United States, based in Lakewood, NJ. It received its IRS tax-exemption ruling in August 2004, 22 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Lakewood Resource and Referral Center Inc reported income of $61.1m and spending of $56.3m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $30.1m to $61.1m (+103%), an average of +19% a year. The sharpest change came in the year to December 2021, when income rose by 69%. Over the whole period it spent 81% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lakewood Resource and Referral Center 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 99th percentile within NJ. Charities of a similar size with the same main cause include Area Agency on Aging of Western Michigan Inc ($61.0m), Westminster Place ($61.3m) and Ohio Association of Foodbanks ($60.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 21% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $2.1m (3.7% of expenses). Other salaries and wages came to $26.5m. At year end it held assets of $75.5m against liabilities of $22.2m, net assets of $53.3m. It reported 509 employees.