Larc Inc

Analysis

Larc Inc is a registered charity in United States, based in Fort Myers, FL. It received its IRS tax-exemption ruling in July 1962, 64 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Larc Inc reported income of $4.8m and spending of $3.5m, leaving 27% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $3.0m to $4.8m (+63%), an average of +13% a year. The sharpest change came in the year to September 2023, when income rose by 24%. Over the whole period it spent 84% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Larc Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within FL. Charities of a similar size with the same main cause include Tacolcy Economic Development Corporation Inc ($4.8m), North Star Community Services Inc ($4.8m) and Economic Growth Foundation ($4.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 58% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $129k (3.7% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $5.5m against liabilities of $553k, net assets of $5.0m. It reported 145 employees.