Loretta Village II Inc

Analysis

Loretta Village II Inc is a registered charity in United States, based in Salisbury, MD. It received its IRS tax-exemption ruling in February 2001, 25 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 (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, Loretta Village II Inc reported income of $75k and spending of $114k, spending 152% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $69k to $75k (+8.3%), an average of +2.0% a year. Over the whole period it spent 132% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Loretta Village II Inc sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 31st percentile within MD. Charities of a similar size with the same main cause include Ghent Area Ministry ($75k), Haven on Broad Inc ($75k) and Gda Housing Foundation ($75k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 57% and program service revenue 37% of the total. Other salaries and wages came to $14k. At year end it held assets of $386k against liabilities of $55k, net assets of $332k.

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.