Laundry Truck LA

Analysis

Laundry Truck LA is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in April 2018, 8 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Laundry Truck LA reported income of $645k and spending of $525k, spending 81% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $420k to $645k (+54%), an average of +15% a year. The sharpest change came in the year to December 2023, when income rose by 56%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Laundry Truck LA sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 75th percentile within CA. Charities of a similar size with the same main cause include Urban Angels SF ($645k), Louisiana Association for Challenged Adults Inc ($645k) and Set Beautiful Free ($645k).

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 $33k (6.3% of expenses). Other salaries and wages came to $163k. At year end it held assets of $160k against liabilities of $0, net assets of $160k.