Loray Girls Home Inc

Analysis

Loray Girls Home Inc is a registered charity in United States, based in Gastonia, NC. It received its IRS tax-exemption ruling in March 1988, 38 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Loray Girls Home Inc reported income of $275k and spending of $285k, spending 104% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $244k to $275k (+12%), an average of +4.0% a year. The sharpest change came in the year to June 2021, when income rose by 20%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Loray Girls Home Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 58th percentile within NC. Charities of a similar size with the same main cause include Stone Soup ($275k), Forward Foundation ($275k) and Transformative Development Corporation ($275k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $47k (16% of expenses). Other salaries and wages came to $126k. At year end it held assets of $77k against liabilities of $1,178, net assets of $76k. It reported 10 employees.