The Launch Place

Analysis

The Launch Place is a registered charity in United States, based in Danville, VA. It received its IRS tax-exemption ruling in November 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 June 2023, The Launch Place reported income of $2.6m and spending of $964k, leaving 62% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.4m to $2.6m (+80%), an average of +16% a year. The sharpest change came in the year to June 2021, when income rose by 279%. Over the whole period it spent 56% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Launch Place sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within VA. Charities of a similar size with the same main cause include Pasco Economic Development Council Inc ($2.6m), Southern Arizona Land Trust Inc ($2.6m) and Commercial Employees Local 94-94a Training Program ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $188k (20% of expenses). Other salaries and wages came to $238k. At year end it held assets of $7.9m against liabilities of $958, net assets of $7.9m. It reported 4 employees.