Lorenes Place II

Analysis

Lorenes Place II is a registered charity in United States, based in Lakewood, WA. It received its IRS tax-exemption ruling in July 2014, 12 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, Lorenes Place II reported income of $1.3m and spending of $1.3m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.8m to $1.3m (-27%), an average of -7.6% a year. The sharpest change came in the year to December 2020, when income dropped by 31%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lorenes Place II sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within WA. Charities of a similar size with the same main cause include Neighbors Nourishing Neighbors ($1.3m), Little Scholars of Detroit ($1.3m) and Hawaii Agricultural Foundation ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $303k. At year end it held assets of $322k against liabilities of $238k, net assets of $84k. It reported 10 employees.