The Laredo Area Community Foundation

Analysis

The Laredo Area Community Foundation is a registered charity in United States, based in Laredo, TX. It received its IRS tax-exemption ruling in February 2001, 25 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 2022, The Laredo Area Community Foundation reported income of $1.4m and spending of $917k, leaving 32% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income fell from $1.7m to $1.4m (-21%), an average of -7.6% a year. The sharpest change came in the year to December 2022, when income dropped by 44%. Over the whole period it spent 52% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Laredo Area Community Foundation 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 82nd percentile, and in the 86th percentile within TX. Charities of a similar size with the same main cause include Goldstein Foundation ($1.4m), United Way of St Lucie & Okeechobee Inc ($1.4m) and US Ukrainian Activists Inc ($1.4m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 70% of the total. Other salaries and wages came to $47k. At year end it held assets of $15.2m against liabilities of $0, net assets of $15.2m. It reported 3 employees.