Greene Lamp Incorporated

Analysis

Greene Lamp Incorporated is a registered charity in United States, based in Kinston, NC. It received its IRS tax-exemption ruling in March 1966, 60 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Greene Lamp Incorporated reported income of $9.2m and spending of $9.7m, spending 105% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.2m to $9.2m (+13%), an average of +3.1% a year. The sharpest change came in the year to June 2021, when income rose by 25%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greene Lamp Incorporated sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Goodwill Industries of Northern Wisconsin & Upper Michigan Inc ($9.2m), Advantix Development Corporation ($9.3m) and Work Training Center for the Handicapped Inc ($9.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $139k (1.4% of expenses). Other salaries and wages came to $4.2m. At year end it held assets of $3.2m against liabilities of $1.1m, net assets of $2.1m. It reported 218 employees.