College Properties of Lorain County Inc

Analysis

College Properties of Lorain County Inc is a registered charity in United States, based in Oberlin, OH. It received its IRS tax-exemption ruling in January 1991, 35 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, College Properties of Lorain County Inc reported income of $4.7m and spending of $5.8m, spending 125% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.6m to $4.7m (+2.5%), an average of +0.6% a year. The sharpest change came in the year to June 2022, when income rose by 312%. Over the whole period it spent 148% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, College Properties of Lorain County Inc sits at the 91st percentile: it is larger than about 91% 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 Purple Maia Foundation ($4.7m), Young Mens Christian Association of Kokomo Inc ($4.7m) and Florida Youth Soccer Association Inc ($4.7m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $39.9m against liabilities of $38.5m, net assets of $1.4m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.