Lecom at Presque Isle Inc

Analysis

Lecom at Presque Isle Inc is a registered charity in United States, based in Erie, PA. It received its IRS tax-exemption ruling in June 2016, 10 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 June 2023, Lecom at Presque Isle Inc reported income of $11.2m and spending of $11.2m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $10.3m to $11.2m (+9.5%), an average of +2.3% a year. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lecom at Presque Isle Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within PA. Charities of a similar size with the same main cause include Bridgewater Village Inc ($11.2m), Harwood Place Inc ($11.3m) and Westside Health Authority ($11.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.8% and program service revenue 98% of the total. Other salaries and wages came to $5.8m. At year end it held assets of $21.9m against liabilities of $2.8m, net assets of $19.1m. It reported 203 employees.

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.