Laurelwood Inc of Spartanburg

Analysis

Laurelwood Inc of Spartanburg is a registered charity in United States, based in Boiling Springs, SC. It received its IRS tax-exemption ruling in February 1996, 30 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Laurelwood Inc of Spartanburg reported income of $100k and spending of $146k, spending 145% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $108k to $100k (-6.6%), an average of -1.3% a year. Over the whole period it spent 130% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Laurelwood Inc of Spartanburg sits at the 33rd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 43rd percentile within SC. Charities of a similar size with the same main cause include Wings Upon the Prairie Inc ($100k), Lesters Feet Foundation Inc ($100k) and Friend-In-Deed ($100k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. Other salaries and wages came to $21k. At year end it held assets of $452k against liabilities of $1.1m, net assets of -$614k.

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.