Greater Laredo Development Foundation

Analysis

Greater Laredo Development Foundation is a registered charity in United States, based in Laredo, TX. It received its IRS tax-exemption ruling in October 2023, 3 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 September 2023, Greater Laredo Development Foundation reported income of $893k and spending of $884k, spending 99% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $709k to $893k (+26%), an average of +5.9% a year. The sharpest change came in the year to September 2023, when income rose by 23%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater Laredo Development Foundation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 82nd percentile within TX. Charities of a similar size with the same main cause include We Want Green Too ($892k), White Earth Investment Initiative ($893k) and Impact Loan Fund Inc ($892k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 84% and program service revenue 15% of the total. Other salaries and wages came to $463k. At year end it held assets of $255k against liabilities of $7,032, net assets of $248k. It reported 9 employees.