Lorain Revitalization Association

Analysis

Lorain Revitalization Association is a registered charity in United States, based in Lorain, OH. It received its IRS tax-exemption ruling in March 2021, 5 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, Lorain Revitalization Association reported income of $113k and spending of $103k, spending 91% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $150k to $113k (-25%), an average of -24% a year. The sharpest change came in the year to December 2023, when income dropped by 25%. Over the whole period it spent 76% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lorain Revitalization Association sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 41st percentile within OH. Charities of a similar size with the same main cause include Parallel Partners Group Inc ($113k), Missouri Valley Growth Inc ($113k) and Warren Redevelopment & Planning Corp ($113k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 2.6% of the total. At year end it held assets of $114k against liabilities of $5,677, net assets of $108k.