Lakewood Development Corporation

Analysis

Lakewood Development Corporation is a registered charity in United States, based in Lakewood, NJ. It received its IRS tax-exemption ruling in April 1999, 27 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lakewood Development Corporation reported income of $2.2m and spending of $891k, leaving 60% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $204k to $2.2m (+999%), an average of +82% a year. The sharpest change came in the year to December 2022, when income rose by 892%. Over the whole period it spent 65% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lakewood Development Corporation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within NJ. Charities of a similar size with the same main cause include Canvasback Missions Inc ($2.2m), Addison County Community Action Group Inc ($2.2m) and Columbus Family Y Inc ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. Other salaries and wages came to $232k. At year end it held assets of $21.0m against liabilities of $15k, net assets of $21.0m. It reported 3 employees.