Lets Grow Akron Inc

Analysis

Lets Grow Akron Inc is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in March 1990, 36 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, Lets Grow Akron Inc reported income of $264k and spending of $284k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $213k to $264k (+24%), an average of +5.6% a year. The sharpest change came in the year to December 2022, when income rose by 19%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lets Grow Akron Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within OH. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($264k), Naiop San Diego Foundation ($264k) and Overton Brooks Research Corporation Inc ($264k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 31% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $33k (11% of expenses). Other salaries and wages came to $125k. At year end it held assets of $152k against liabilities of $161k, net assets of -$9,225. It reported 10 employees.