Lets Thrive Baltimore Inc

Analysis

Lets Thrive Baltimore Inc is a registered charity in United States, based in Owings Mills, MD. It received its IRS tax-exemption ruling in March 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Lets Thrive Baltimore Inc reported income of $466k and spending of $374k, spending 80% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $72k to $466k (+547%), an average of +60% a year. The sharpest change came in the year to December 2022, when income rose by 136%. Over the whole period it spent 84% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lets Thrive Baltimore Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within MD. Charities of a similar size with the same main cause include Irvington My Brothers Keeper Inc ($466k), New York City District Council of Carpenters Charity Fund ($466k) and Food 4 Farmers ($466k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $125k (33% of expenses). Other salaries and wages came to $5,200. At year end it held assets of $326k against liabilities of $128k, net assets of $197k. It reported 3 employees.