Largo Landing Elderly Developments

Analysis

Largo Landing Elderly Developments is a registered charity in United States, based in Reston, VA. It received its IRS tax-exemption ruling in October 1982, 44 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, Largo Landing Elderly Developments reported income of $2.2m and spending of $2.2m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.0m to $2.2m (+14%), an average of +3.2% a year. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Largo Landing Elderly Developments sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within VA. Charities of a similar size with the same main cause include Heritage Place Inc ($2.2m), Communityworks North Dakota ($2.2m) and Central California Senior Housing Inc ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.0% and program service revenue 94% of the total. Other salaries and wages came to $396k. At year end it held assets of $5.8m against liabilities of $3.9m, net assets of $1.9m. It reported 7 employees.