Loretto Properties Corporation

Analysis

Loretto Properties Corporation is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in August 2024, 2 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Loretto Properties Corporation reported income of $90k and spending of $82k, spending 92% of its income. Across the 3 years on record, from December 2018 to December 2023, income fell from $270k to $90k (-67%), an average of -42% a year. The sharpest change came in the year to December 2023, when income dropped by 46%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Loretto Properties Corporation sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 34th percentile within NY. Charities of a similar size with the same main cause include LT C-Ii Inc ($90k), G R F 9812 Lockport Road Inc ($90k) and Southwest Florida Gwi Housing Xiii Inc ($90k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 36% of the total. At year end it held assets of $1.0m against liabilities of $97k, net assets of $946k.