L C Ind Inc

Analysis

L C Ind Inc is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in July 1960, 66 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 June 2023, L C Ind Inc reported income of $295.7m and spending of $288.8m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $70.4m to $295.7m (+320%), an average of +43% a year. The sharpest change came in the year to June 2023, when income rose by 504%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, L C Ind Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within NC. Charities of a similar size with the same main cause include Catholic Community Services of Western Washington ($295.4m), Resources for Human Development Inc ($307.6m) and Early Learning Coalition of Broward County Inc ($295.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $2.2m (0.8% of expenses). Other salaries and wages came to $31.5m. At year end it held assets of $216.5m against liabilities of $36.5m, net assets of $180.0m. It reported 911 employees.