Joseph Larosa Jr Foundation Inc

Analysis

Joseph Larosa Jr Foundation Inc is a registered charity in United States, based in Setauket, NY. It received its IRS tax-exemption ruling in May 2023, 3 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Joseph Larosa Jr Foundation Inc reported income of $68k and spending of $30k, leaving 56% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $15k to $68k (+340%), an average of +340% a year. The sharpest change came in the year to December 2023, when income rose by 340%. Over the whole period it spent 36% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Joseph Larosa Jr Foundation Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 28th percentile within NY. Charities of a similar size with the same main cause include Barrett-Jackson Charities ($68k), Carson King Foundation ($68k) and New Braunfels Public Library Foundation ($68k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 109% of the total. At year end it held assets of $53k against liabilities of $0, net assets of $53k.