Lean Rocket Lab

Analysis

Lean Rocket Lab is a registered charity in United States, based in Jackson, MI. It received its IRS tax-exemption ruling in January 2020, 6 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 (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, Lean Rocket Lab reported income of $752k and spending of $783k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $409k to $752k (+84%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 79%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lean Rocket Lab sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MI. Charities of a similar size with the same main cause include Progress North Carolina ($752k), Sagebrush Inc ($753k) and Fairfield Industries Inc ($751k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $257k (33% of expenses). Other salaries and wages came to $109k. At year end it held assets of $410k against liabilities of $88k, net assets of $322k. It reported 6 employees.