Launchspace

Analysis

Launchspace is a registered charity in United States, based in Orange, MA. It received its IRS tax-exemption ruling in April 2017, 9 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Launchspace reported income of $515k and spending of $401k, leaving 22% of income unspent that year. Across the 3 years on record, from December 2018 to December 2023, income grew from $257k to $515k (+100%), an average of +42% a year. The sharpest change came in the year to December 2023, when income rose by 160%. Over the whole period it spent 73% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Launchspace sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within MA. Charities of a similar size with the same main cause include Somerset Inc ($515k), Syracuse Pulp & Paper Foundation Inc-College of Forestry at Syracus ($515k) and Howe Community Resource Center Inc ($515k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 5.5% of the total. Compensation of current officers, directors and key employees was $61k (15% of expenses). Other salaries and wages came to $17k. At year end it held assets of $353k against liabilities of $27k, net assets of $326k. It reported 2 employees.