Richfield Latch Key Child Care Center Inc

Analysis

Richfield Latch Key Child Care Center Inc is a registered charity in United States, based in Richfield, MN. It received its IRS tax-exemption ruling in December 1981, 45 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Richfield Latch Key Child Care Center Inc reported income of $1.1m and spending of $1.1m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $1.1m (-6.0%), an average of -1.5% a year. The sharpest change came in the year to December 2022, when income rose by 26%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Richfield Latch Key Child Care Center Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within MN. Charities of a similar size with the same main cause include Days of Discovery Inc ($1.1m), Otsego County Sportsplex ($1.1m) and Amiracle4sure ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.8% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $79k (7.2% of expenses). Other salaries and wages came to $595k. At year end it held assets of $681k against liabilities of $15k, net assets of $666k. It reported 33 employees.