American Latvian Association in the United States Inc

Analysis

American Latvian Association in the United States Inc is a registered charity in United States, based in Rockville, MD. It received its IRS tax-exemption ruling in October 1952, 74 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, American Latvian Association in the United States Inc reported income of $784k and spending of $1.1m, spending 141% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.8m to $784k (-58%), an average of -19% a year. The sharpest change came in the year to December 2021, when income dropped by 62%. Over the whole period it spent 77% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, American Latvian Association in the United States Inc 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 76th percentile, and in the 76th percentile within MD. Charities of a similar size with the same main cause include Museum of the Aleutians ($784k), Churchill Arts Council ($784k) and The Key to Change ($784k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 48% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $93k (8.4% of expenses). Other salaries and wages came to $89k. At year end it held assets of $8.7m against liabilities of $48k, net assets of $8.6m. It reported 3 employees.

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.