Chesapeake Lighthouse Foundation Inc

Analysis

Chesapeake Lighthouse Foundation Inc is a registered charity in United States, based in Laurel, MD. It received its IRS tax-exemption ruling in March 2005, 21 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Chesapeake Lighthouse Foundation Inc reported income of $58.6m and spending of $49.1m, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $38.9m to $58.6m (+51%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 21%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Chesapeake Lighthouse Foundation Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MD. Charities of a similar size with the same main cause include Fisk University ($58.5m), Noble and Greenough School ($58.6m) and Wayland Baptist University ($58.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $392k (0.8% of expenses). Other salaries and wages came to $22.9m. At year end it held assets of $105.0m against liabilities of $77.9m, net assets of $27.1m. It reported 141 employees.