Laurens Memorial Home For The Aged Inc
EIN: 570531246 · Laurens, SC · NTEE: P75Z
| Metric | Value |
|---|---|
| Total Revenue | $884K |
| Total Expenses | $986K |
| Net Assets | $628K |
Is Laurens Memorial Home For The Aged Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Laurens Memorial Home For The Aged Inc
Laurens Memorial Home For The Aged Inc (EIN: 570531246) is a nonprofit organization based in Laurens, SC, classified under NTEE code P75Z. The organization reported total revenue of $884K and total assets of $334K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Laurens Memorial Home For The Aged Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Laurens Memorial Home For The Aged Inc is a small nonprofit that has been operating for 54 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.1M |
| Total Expenses | $986K |
| Surplus / Deficit | +$101K |
| Total Assets | $629K |
| Total Liabilities | $756 |
| Net Assets | $628K |
| Operating Margin | 9.3% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 7.6 months |
Financial Health Grade: A
In 2023, Laurens Memorial Home For The Aged Inc reported a surplus of $101K with revenue exceeding expenses, holds 7.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Laurens Memorial Home For The Aged Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +30.6% | +58.9% | +19.1% |
| 2022 | +40.8% | -25.5% | +67.4% |
| 2021 | +13.2% | +28.0% | -43.5% |
| 2020 | -32.9% | -24.9% | -20.6% |
| 2019 | -9.3% | +3.9% | -11.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1972 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Laurens Memorial Home For The Aged Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Laurens Memorial Home For The Aged Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $101K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.1%.
Frequently Asked Questions about Laurens Memorial Home For The Aged Inc
Is Laurens Memorial Home For The Aged Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Laurens Memorial Home For The Aged Inc (EIN: 570531246) insufficient data. 0 red flags identified, 0 strengths noted.
How does Laurens Memorial Home For The Aged Inc spend its money?
Detailed spending breakdown data is not yet available for Laurens Memorial Home For The Aged Inc. Check back for updated IRS 990 analysis.
Are donations to Laurens Memorial Home For The Aged Inc tax-deductible?
Laurens Memorial Home For The Aged Inc is registered as a tax-exempt nonprofit (EIN: 570531246). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Laurens Memorial Home For The Aged Inc located?
Laurens Memorial Home For The Aged Inc is headquartered in Laurens, South Carolina and files with the IRS under EIN 570531246. It is classified under NTEE code P75Z.
How many years of IRS 990 filings does Laurens Memorial Home For The Aged Inc have?
Laurens Memorial Home For The Aged Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $884K in total revenue.
Filing History
IRS 990 filing history for Laurens Memorial Home For The Aged Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Laurens Memorial Home For The Aged Inc's revenue has grown by 55.5%, moving from $699K to $1.1M. Total assets increased by 9.3% over the same period, from $575K to $629K. Total functional expenses rose by 34.9%, from $731K to $986K. In its most recent filing year (2023), Laurens Memorial Home For The Aged Inc reported a surplus of $101K, with revenue exceeding expenses. The organization holds $756 in liabilities against $629K in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $628K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.1M | $986K | $629K | $756 | — | View 990 |
| 2022 | $832K | $621K | $528K | $967 | — | View 990 |
| 2021 | $591K | $833K | $315K | $154 | — | View 990 |
| 2020 | $522K | $651K | $558K | $1K | — | — |
| 2019 | $778K | $867K | $703K | $17K | — | View 990 |
| 2018 | $858K | $834K | $791K | $11K | — | View 990 |
| 2017 | $925K | $761K | $766K | $10K | — | View 990 |
| 2016 | $783K | $748K | $621K | $32K | — | View 990 |
| 2015 | $782K | $735K | $582K | $28K | — | View 990 |
| 2014 | $747K | $799K | $546K | $38K | — | View 990 |
| 2013 | $690K | $780K | $599K | $39K | — | View 990 |
| 2012 | $818K | $718K | $672K | $9K | — | — |
| 2011 | $699K | $731K | $575K | $12K | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $1.1M, expenses of $986K, and assets of $629K (revenue +30.6% year-over-year).
- 2022: Revenue of $832K, expenses of $621K, and assets of $528K (revenue +40.8% year-over-year).
- 2021: Revenue of $591K, expenses of $833K, and assets of $315K (revenue +13.2% year-over-year).
- 2020: Revenue of $522K, expenses of $651K, and assets of $558K (revenue -32.9% year-over-year).
- 2019: Revenue of $778K, expenses of $867K, and assets of $703K (revenue -9.3% year-over-year).
- 2018: Revenue of $858K, expenses of $834K, and assets of $791K (revenue -7.3% year-over-year).
- 2017: Revenue of $925K, expenses of $761K, and assets of $766K (revenue +18.2% year-over-year).
- 2016: Revenue of $783K, expenses of $748K, and assets of $621K (revenue +0.1% year-over-year).
- 2015: Revenue of $782K, expenses of $735K, and assets of $582K (revenue +4.7% year-over-year).
- 2014: Revenue of $747K, expenses of $799K, and assets of $546K (revenue +8.2% year-over-year).
- 2013: Revenue of $690K, expenses of $780K, and assets of $599K (revenue -15.7% year-over-year).
- 2012: Revenue of $818K, expenses of $718K, and assets of $672K (revenue +17.1% year-over-year).
- 2011: Revenue of $699K, expenses of $731K, and assets of $575K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Laurens Memorial Home For The Aged Inc:
Data Sources and Methodology
This transparency report for Laurens Memorial Home For The Aged Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.