Loreto House

Analysis

Loreto House is a registered charity in United States, based in Denton, TX. It received its IRS tax-exemption ruling in March 2008, 18 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Loreto House reported income of $1.9m and spending of $2.3m, spending 121% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income grew from $655k to $1.9m (+187%), an average of +42% a year. The sharpest change came in the year to December 2022, when income rose by 63%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Loreto House sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 89th percentile within TX. Charities of a similar size with the same main cause include Early Childhood Center Inc of West Market United Methodist Church ($1.9m), You Gotta Believe the Older Child Adoption & Permanency Movement ($1.9m) and Pinewood-Cloquet Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $103k (4.5% of expenses). Other salaries and wages came to $1.2m. It paid $20k in professional fundraising fees. At year end it held assets of $3.0m against liabilities of $2.9m, net assets of $111k. It reported 24 employees.