Lace Em Up for Libby Inc

Analysis

Lace Em Up for Libby Inc is a registered charity in United States, based in Davidsonville, MD. It received its IRS tax-exemption ruling in April 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lace Em Up for Libby Inc reported income of $87k and spending of $77k, spending 89% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $68k to $87k (+28%), an average of +28% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lace Em Up for Libby Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 35th percentile within MD. Charities of a similar size with the same main cause include Indiana Economic Development Association Foundation ($87k), C E R V Inc ($87k) and Calvary Community Development Corporation of Morristown ($87k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $28k against liabilities of $0, net assets of $28k.