Latched Support Inc

Analysis

Latched Support Inc is a registered charity in United States, based in Windcrest, TX. It received its IRS tax-exemption ruling in September 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, Latched Support Inc reported income of $1.1m and spending of $1.1m, spending 107% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $1.1m to $1.1m (-0.8%), an average of -0.3% a year. The sharpest change came in the year to December 2023, when income rose by 56%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Latched Support Inc 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 80th percentile, and in the 84th percentile within TX. Charities of a similar size with the same main cause include Communities Overcoming Violent Encounters Inc ($1.1m), Shack Neighborhood House Inc ($1.1m) and Red White and Boom Inc ($1.1m).

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 $260k (23% of expenses). Other salaries and wages came to $485k. At year end it held assets of $652k against liabilities of $26k, net assets of $626k. It reported 18 employees.