Homes for Laurel Inc

Analysis

Homes for Laurel Inc is a registered charity in United States, based in Annapolismd, MD. It received its IRS tax-exemption ruling in September 2000, 26 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 March 2023, Homes for Laurel Inc reported income of $184k and spending of $252k, spending 137% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income grew from $167k to $184k (+9.8%), an average of +3.2% a year. Over the whole period it spent 127% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homes for Laurel Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 52nd percentile within MD. Charities of a similar size with the same main cause include Laura Mahoney Autism and Epilepsy Foundation ($184k), Cancer Journeys Foundation ($184k) and Calvary International Development Ministries Inc ($184k).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $1.2m against liabilities of $2.0m, net assets of -$791k.

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.