Laurel Trace Inc

Analysis

Laurel Trace Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in November 2010, 16 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 June 2023, Laurel Trace Inc reported income of $54k and spending of $102k, spending 191% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $50k to $54k (+7.3%), an average of +1.8% a year. Over the whole period it spent 168% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Laurel Trace Inc sits at the 12th percentile: it is larger than about 12% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 24th percentile within FL. Charities of a similar size with the same main cause include Calm Water Bridge ($54k), Lincoln Housing Charities ($54k) and Community Apartments Corporation of Rutherford County 2 ($54k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 44% and program service revenue 55% of the total. Other salaries and wages came to $5,973. At year end it held assets of $1.1m against liabilities of $1.4m, net assets of -$341k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.