Lawrence County Economic Development Corporation

Analysis

Lawrence County Economic Development Corporation is a registered charity in United States, based in New Castle, PA. It received its IRS tax-exemption ruling in March 2005, 21 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 December 2023, Lawrence County Economic Development Corporation reported income of $4.1m and spending of $671k, leaving 83% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $670k to $4.1m (+506%), an average of +57% a year. The sharpest change came in the year to December 2022, when income rose by 364%. Over the whole period it spent 60% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lawrence County Economic Development Corporation sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within PA. Charities of a similar size with the same main cause include Volunteers of America Inc ($4.1m), Boy Scouts of America ($4.1m) and St Annes Mead ($4.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.3% and program service revenue 0.9% of the total. At year end it held assets of $12.1m against liabilities of $7.1m, net assets of $5.0m.