United Way of Laredo Inc

Analysis

United Way of Laredo Inc is a registered charity in United States, based in Laredo, TX. It received its IRS tax-exemption ruling in May 1967, 59 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, United Way of Laredo Inc reported income of $1.2m and spending of $1.3m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.2m (+10%), an average of +2.5% a year. The sharpest change came in the year to December 2020, when income rose by 52%. Over the whole period it spent 102% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, United Way of Laredo Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 85th percentile within TX. Charities of a similar size with the same main cause include United Way of Southwestern Oregon Inc ($1.2m), 4rkids ($1.2m) and Fallen & Wounded Soldiers Fund Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Other salaries and wages came to $107k. At year end it held assets of $3.0m against liabilities of $1.1m, net assets of $1.9m. It reported 3 employees.

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.