Latvian Center Garezers Inc

Analysis

Latvian Center Garezers Inc is a registered charity in United States, based in Three Rivers, MI. It received its IRS tax-exemption ruling in October 1965, 61 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Latvian Center Garezers Inc reported income of $1.2m and spending of $1.2m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.4m to $1.2m (-11%), an average of -2.9% a year. The sharpest change came in the year to December 2022, when income rose by 65%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Latvian Center Garezers Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within MI. Charities of a similar size with the same main cause include National Hellenic Society Inc ($1.2m), Belle Grove Inc ($1.2m) and Apologetics Press Incorporated ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $68k (5.6% of expenses). Other salaries and wages came to $308k. At year end it held assets of $4.8m against liabilities of $131k, net assets of $4.6m. It reported 92 employees.