Laamistad Inc

Analysis

Laamistad Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in October 2006, 20 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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, Laamistad Inc reported income of $1.4m and spending of $1.8m, spending 132% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.2m to $1.4m (+18%), an average of +4.3% a year. The sharpest change came in the year to June 2022, when income rose by 89%. Over the whole period it spent 86% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Laamistad Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 86th percentile within GA. Charities of a similar size with the same main cause include Childrens Musuem of Brownsville Inc ($1.4m), Boys and Girls Club of the Pikes Peak Region ($1.4m) and Camelot Camp Inc ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $108k (5.9% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $1.9m against liabilities of $353k, net assets of $1.6m. It reported 95 employees.