Torrance-Lomita Meals on Wheels Inc

Analysis

Torrance-Lomita Meals on Wheels Inc is a registered charity in United States, based in Torrance, CA. It received its IRS tax-exemption ruling in October 1977, 49 years ago. 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 December 2023, Torrance-Lomita Meals on Wheels Inc reported income of $289k and spending of $236k, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $183k to $289k (+58%), an average of +12% a year. The sharpest change came in the year to December 2020, when income rose by 63%. Over the whole period it spent 83% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Torrance-Lomita Meals on Wheels Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 63rd percentile within CA. Charities of a similar size with the same main cause include Leominster Development Corporation ($289k), Habitat for Humanity International Inc ($289k) and Lake Minnetonka Figure Skating Club ($289k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $36k (15% of expenses). Other salaries and wages came to $37k. At year end it held assets of $433k against liabilities of $3,264, net assets of $430k. It reported 5 employees.