Lexington Hearing and Speech Center Inc

Analysis

Lexington Hearing and Speech Center Inc is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in February 1961, 65 years ago. 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 June 2023, Lexington Hearing and Speech Center Inc reported income of $4.0m and spending of $3.7m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.2m to $4.0m (+25%), an average of +5.7% a year. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lexington Hearing and Speech Center Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within KY. Charities of a similar size with the same main cause include Girl Scouts of Central and Western Massachusetts Inc ($4.0m), Our Lady of Victory Renaissance Corporation ($4.0m) and White River Planning & Development Dist Inc ($4.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 26% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $110k (3.0% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $4.1m against liabilities of $1.7m, net assets of $2.4m. It reported 91 employees.