Assets Lancaster

Analysis

Assets Lancaster is a registered charity in United States, based in Lancaster, PA. It received its IRS tax-exemption ruling in August 1996, 30 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 June 2023, Assets Lancaster reported income of $973k and spending of $1.4m, spending 145% of what it took in. Across the 4 years on record, from June 2019 to June 2023, income fell from $1.5m to $973k (-37%), an average of -14% a year. The sharpest change came in the year to June 2021, when income rose by 81%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Assets Lancaster sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 77th percentile within PA. Charities of a similar size with the same main cause include Ho-Chunk Development Corp ($973k), Snowy Mountain Development Corporation ($973k) and Nxtus Inc ($973k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 3.7% of the total. Compensation of current officers, directors and key employees was $43k (3.1% of expenses). Other salaries and wages came to $793k. At year end it held assets of $1.6m against liabilities of $830k, net assets of $746k. It reported 25 employees.