Laurel Redevelopment Corporation

Analysis

Laurel Redevelopment Corporation is a registered charity in United States, based in Laurel, DE. It received its IRS tax-exemption ruling in July 2020, 6 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 2023, Laurel Redevelopment Corporation reported income of $535k and spending of $288k, leaving 46% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $477k to $535k (+12%), an average of +2.9% a year. The sharpest change came in the year to June 2021, when income dropped by 724%. Over the whole period it spent 52% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Laurel Redevelopment Corporation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 66th percentile within DE. Charities of a similar size with the same main cause include Purchase Area Regional Industrial Park Authority Inc ($534k), Leadership New Jersey Inc ($535k) and United Partners for Human Service Inc ($534k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 102% of the total. Other salaries and wages came to $74k. At year end it held assets of $4.1m against liabilities of $21k, net assets of $4.1m. It reported 1 employees.