Laurel Ridge Community College Educational Foundation Inc

Analysis

Laurel Ridge Community College Educational Foundation Inc is a registered charity in United States, based in Middletown, VA. It received its IRS tax-exemption ruling in April 1980, 46 years ago. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Laurel Ridge Community College Educational Foundation Inc reported income of $4.3m and spending of $2.5m, leaving 42% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $4.3m (+98%), an average of +19% a year. The sharpest change came in the year to December 2022, when income rose by 47%. Over the whole period it spent 69% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Laurel Ridge Community College Educational Foundation Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within VA. Charities of a similar size with the same main cause include Van Wert County Foundation ($4.3m), Luther Rice University Inc ($4.3m) and Lake Geauga United Headstart Inc ($4.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 19% of the total. Other salaries and wages came to $90k. At year end it held assets of $36.3m against liabilities of $10.0m, net assets of $26.3m.