Lackawanna College

Analysis

Lackawanna College is a registered charity in United States, based in Scranton, PA. It received its IRS tax-exemption ruling in March 1960, 66 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lackawanna College reported income of $39.4m and spending of $35.8m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $30.5m to $39.4m (+29%), an average of +6.6% a year. The sharpest change came in the year to June 2021, when income rose by 23%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lackawanna College sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within PA. Charities of a similar size with the same main cause include University of North Carolina at Chapel Hill Foundation Inc ($39.4m), Shorter University Inc ($39.4m) and First Philadelphia Preparatory Charter School ($39.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $837k (2.3% of expenses). Other salaries and wages came to $11.2m. At year end it held assets of $79.4m against liabilities of $23.5m, net assets of $55.9m. It reported 704 employees.