Lee Initiative Inc

Analysis

Lee Initiative Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in March 2018, 8 years ago. Its declared purposes cover employment, 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 December 2023, Lee Initiative Inc reported income of $1.4m and spending of $2.0m, spending 141% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $6.1m to $1.4m (-77%), an average of -39% a year. The sharpest change came in the year to December 2023, when income dropped by 48%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lee Initiative Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within KY. Charities of a similar size with the same main cause include Downtown Flushing Transit Hub District Management Association ($1.4m), West Jacksonville Restoration Center Inc ($1.4m) and Houston Community Toolbank Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $161k (8.1% of expenses). Other salaries and wages came to $221k. At year end it held assets of $1.2m against liabilities of $260k, net assets of $925k. It reported 7 employees.