Los Angeles Residential Community Foundation

Analysis

Los Angeles Residential Community Foundation is a registered charity in United States, based in Santa Clarita, CA. It received its IRS tax-exemption ruling in April 1965, 61 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Los Angeles Residential Community Foundation reported income of $6.3m and spending of $6.7m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $6.9m to $6.3m (-9.2%), an average of -2.4% a year. The sharpest change came in the year to June 2021, when income dropped by 31%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Los Angeles Residential Community Foundation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include Client Community Services Inc ($6.3m), Rescue Mission of Roanoke Inc ($6.3m) and Northwest Community Action Programs of Wyoming Inc ($6.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.8% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $426k (6.3% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $23.1m against liabilities of $2.4m, net assets of $20.7m. It reported 77 employees.

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.