Pennsylvania Interest on Lawyer Trust Account Board

Analysis

Pennsylvania Interest on Lawyer Trust Account Board is a registered charity in United States, based in Harrisburg, PA. It received its IRS tax-exemption ruling in August 1998, 28 years ago. 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, Pennsylvania Interest on Lawyer Trust Account Board reported income of $49.0m and spending of $29.3m, leaving 40% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $28.3m to $49.0m (+73%), an average of +15% a year. The sharpest change came in the year to June 2023, when income rose by 98%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Pennsylvania Interest on Lawyer Trust Account Board sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within PA. Charities of a similar size with the same main cause include Northwest University ($48.9m), Julia Dyckman Andrus Memorial Inc ($49.0m) and Elim Homes Inc ($48.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $354k (1.2% of expenses). Other salaries and wages came to $288k. At year end it held assets of $59.4m against liabilities of $1.3m, net assets of $58.1m. It reported 7 employees.