Loiter

Analysis

Loiter is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in November 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 September 2022, Loiter reported income of $201k and spending of $139k, leaving 31% of income unspent that year. Across the 2 years on record, from September 2021 to September 2022, income grew from $106k to $201k (+88%), an average of +88% a year. The sharpest change came in the year to September 2022, when income rose by 88%. Over the whole period it spent 74% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Loiter sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 54th percentile within OH. Charities of a similar size with the same main cause include Startupstark ($201k), West End Economic Development Corporation ($201k) and New Consensus ($201k).

On its Form 990 for the period ending September 2022, revenue came from contributions and grants 41% and program service revenue 35% of the total. Other salaries and wages came to $36k. At year end it held assets of $200k against liabilities of $123k, net assets of $77k.