Lorain-Medina Rural Electric People Fund Inc

Analysis

Lorain-Medina Rural Electric People Fund Inc is a registered charity in United States, based in Spencer, OH. It received its IRS tax-exemption ruling in May 1999, 27 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 2023, Lorain-Medina Rural Electric People Fund Inc reported income of $84k and spending of $74k, spending 89% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $75k to $84k (+11%), an average of +11% a year. Over the whole period it spent 114% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Lorain-Medina Rural Electric People Fund Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 33rd percentile within OH. Charities of a similar size with the same main cause include Spartans4life Foundation ($84k), Ramsey Public Education Foundation Inc ($84k) and Mount Horeb Summer Frolic Inc ($84k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $45k against liabilities of $6,600, net assets of $39k.