Lanesboro Development Corporation

Analysis

Lanesboro Development Corporation is a registered charity in United States, based in Pittsfield, MA. It received its IRS tax-exemption ruling in May 2006, 20 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2024, Lanesboro Development Corporation reported income of $58k and spending of $68k, spending 118% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $42k to $58k (+36%), an average of +8.1% a year. The sharpest change came in the year to June 2024, when income rose by 22%. Over the whole period it spent 130% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lanesboro Development Corporation sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 31st percentile within MA. Charities of a similar size with the same main cause include Angel Names Association ($58k), Guided by Goats Inc ($58k) and Marys House Ministry Alliance for Regaining Your Safety ($58k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. Other salaries and wages came to $4,669. At year end it held assets of $693k against liabilities of $930k, net assets of -$237k.

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.