Lakewood Community Service Corp

Analysis

Lakewood Community Service Corp is a registered charity in United States, based in Lakewood, NJ. It received its IRS tax-exemption ruling in October 1998, 28 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. 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 August 2023, Lakewood Community Service Corp reported income of $9.6m and spending of $8.8m, spending 91% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $3.3m to $9.6m (+194%), an average of +31% a year. The sharpest change came in the year to August 2022, when income rose by 75%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lakewood Community Service Corp sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NJ. Charities of a similar size with the same main cause include Tazwood Community Services Inc ($9.6m), National Healthplex Inc ($9.6m) and Evergreen Homes Inc ($9.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 70% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $76k (0.9% of expenses). Other salaries and wages came to $5.2m. At year end it held assets of $6.4m against liabilities of $1.6m, net assets of $4.7m. It reported 135 employees.