Lorain Lighthouse Foundation Inc

Analysis

Lorain Lighthouse Foundation Inc is a registered charity in United States, based in Lorain, OH. It received its IRS tax-exemption ruling in June 1991, 35 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, Lorain Lighthouse Foundation Inc reported income of $55k and spending of $54k, spending 98% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $126k to $55k (-56%), an average of -56% a year. The sharpest change came in the year to December 2023, when income dropped by 56%. Over the whole period it spent 83% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lorain Lighthouse Foundation Inc sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 22nd percentile within OH. Charities of a similar size with the same main cause include Society for Implementation Research Collaboration ($55k), Winnebago Area Museum ($55k) and Ptsa Connecticut Inc ($55k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 46% and program service revenue 10% of the total. At year end it held assets of $145k against liabilities of $0, net assets of $145k.