Loretto Management Corporation

Analysis

Loretto Management Corporation is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in June 1988, 38 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Loretto Management Corporation reported income of $28.5m and spending of $30.0m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $27.4m to $28.5m (+4.0%), an average of +1.0% a year. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Loretto Management Corporation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include United Breast Cancer Foundation Inc ($28.5m), St Claire Real Properties Inc ($28.5m) and Brook Lane Health Services Inc ($28.5m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 94% of the total. Other salaries and wages came to $14.9m. At year end it held assets of $32.6m against liabilities of $19.6m, net assets of $13.0m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.