Lokahi Assurance Ltd

Analysis

Lokahi Assurance Ltd is a registered charity in United States, based in Oakland, CA. It received its IRS tax-exemption ruling in September 2003, 23 years ago. Its declared purposes cover mutual and membership benefit, which this site groups under other charitable purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lokahi Assurance Ltd reported income of $758.2m and spending of $628.4m, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $528.0m to $758.2m (+44%), an average of +9.5% a year. The sharpest change came in the year to December 2023, when income rose by 45%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lokahi Assurance Ltd sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within CA. Charities of a similar size with the same main cause include St Lukes Physician Group Inc ($747.5m), Mercy Health Partners ($783.9m) and Manhattan and Bronx Surface Transit Operating Authority ($737.0m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 73% of the total. Compensation of current officers, directors and key employees was $17k (0.0% of expenses). At year end it held assets of $3.35bn against liabilities of $2.74bn, net assets of $613.2m.