Lp-Ec Quality Destination Inc

Analysis

Lp-Ec Quality Destination Inc is a registered charity in United States, based in Lake Placid, NY. It received its IRS tax-exemption ruling in December 2007, 19 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, Lp-Ec Quality Destination Inc reported income of $75k and spending of $25k, leaving 66% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $752k to $75k (-90%), an average of -44% a year. The sharpest change came in the year to December 2022, when income rose by 789%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lp-Ec Quality Destination Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 30th percentile within NY. Charities of a similar size with the same main cause include Rotary Club of the Classic City of Athens Inc ($75k), Rotary Club of Three Creeks Foundation ($75k) and Midtown Phillips Neighborhood Association Inc ($75k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $28k against liabilities of $1,561, net assets of $26k.