Lawrenceville Development Corporation

Analysis

Lawrenceville Development Corporation is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in April 1985, 41 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 September 2023, Lawrenceville Development Corporation reported income of $863k and spending of $795k, spending 92% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.7m to $863k (-48%), an average of -15% a year. The sharpest change came in the year to September 2020, when income dropped by 36%. Over the whole period it spent 108% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lawrenceville Development Corporation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 76th percentile within PA. Charities of a similar size with the same main cause include Harbor Entrepreneur Center ($862k), MRM North Campus Inc ($863k) and Harbor Bank of Maryland Community Development Corporation ($862k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 76% and program service revenue 9.2% of the total. Compensation of current officers, directors and key employees was $144k (18% of expenses). Other salaries and wages came to $102k. At year end it held assets of $2.1m against liabilities of $93k, net assets of $2.0m. It reported 5 employees.