Lawrence Economic Development Corporation

Analysis

Lawrence Economic Development Corporation is a registered charity in United States, based in South Point, OH. It received its IRS tax-exemption ruling in June 1987, 39 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 Economic Development Corporation reported income of $5.3m and spending of $5.1m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.6m to $5.3m (+46%), an average of +9.9% a year. The sharpest change came in the year to December 2021, when income rose by 133%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lawrence Economic Development Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within OH. Charities of a similar size with the same main cause include Operating Engineers Local 101 ($5.3m), John H Shook Foundation ($5.3m) and Mason Christian Village Inc ($5.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 5.8% of the total. Compensation of current officers, directors and key employees was $533k (10% of expenses). Other salaries and wages came to $613k. At year end it held assets of $65.0m against liabilities of $13.8m, net assets of $51.3m.