Las Madrinas

Analysis

Las Madrinas is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in June 1943, 83 years ago. 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 January 2024, Las Madrinas reported income of $1.8m and spending of $1.9m, spending 101% of its income. Across the 5 years on record, from January 2020 to January 2024, income grew from $1.1m to $1.8m (+67%), an average of +14% a year. The sharpest change came in the year to January 2022, when income rose by 123%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Las Madrinas sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within CA. Charities of a similar size with the same main cause include Bangor Homes Non-Profit Housing Corporation ($1.8m), Bernardine Senior Housing Corporation ($1.8m) and Central Georgia Technical College Foundation Inc ($1.8m).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 111% of the total. At year end it held assets of $129k against liabilities of $150, net assets of $129k.