Larc Inc
- Assets
- $15.5m
- Revenue
- $13.9m
- Investments
- $0.0
- Employees
- 332
- Location
- Lafayette, LA
- Founding
- 07/1969
- Data as of
- 06/2023
- EIN
- 72-0604268
Organization Overview
Larc Inc is located in Lafayette, LA. The organization was established in 1969. According to its NTEE Classification (P82) the organization is classified as: Developmentally Disabled Centers, under the broad grouping of Human Services and related organizations. As of 06/2023, Larc Inc employed 332 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Larc Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Larc Inc generated $13.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $11.4m during the year ending 06/2023. While expenses have increased by 6.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT PERSONS WITH DEVELOPMENTAL DISABILITIES IN REACHING THEIR GOALS OF SELF SUFFICIENCY, QUALITY OF LIFE AND SELF WORTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VOCATIONAL PROGRAM: THE ORGANIZATION PROVIDED WORK TRAINING AND OPPORTUNITIES FOR DEVELOPING RECREATION AND MOTOR SKILLS TO APPROXIMATELY 98 DEVELOPMENTALLY DISABLED PERSONS OVER 21 YEARS OLD.
ACADIAN VILLAGE: THE ORGANIZATION OPERATED A LIVING MUSEUM VISITED BY TOURISTS AND USED BY THE COMMUNITY FOR SPECIAL EVENTS.
RESIDENTIAL PROGRAM: THE ORGANIZATION OPERATED 12 GROUP HOMES IN WHICH APPROXIMATELY 84 DEVELOPMENTALLY DISABLED PERSONS OVER 18 YEARS OLD LIVED AND RECEIVED TRAINING IN INDEPENDENT LIVING SKILLS.
COMMUNITY SUPPORTS AND SERVICES PROGRAM: THE ORGANIZATION PROVIDED PERSONAL CARE ATTENDANT SERVICES FOR APPROXIMATELY 6 DEVELOPMENTALLY DISABLED PERSONS AND SUPERVISED INDEPENDENT LIVING SERVICES FOR APPROXIMATELY 15 DEVELOPMENTALLY DISABLED PERSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Jankower Vice Preside | OfficerTrustee | 1 | $0 |
Mike Baumbach President | OfficerTrustee | 1 | $0 |
Donna Mccardell Board Member | Trustee | 1 | $0 |
James Simmons Jr Board Member | Trustee | 1 | $0 |
Mark Romero Secretary | OfficerTrustee | 1 | $0 |
Johnny Cox Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $107,740 |
| Related organizations | $52,076 |
| Government grants | $1,944,905 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,190 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,155,911 |
| Total Program Service Revenue | $11,479,148 |
| Investment income | $42,684 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,858 |
| Net Income from Fundraising Events | $252,310 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,941,412 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $157,320 |
| Compensation of current officers, directors, key employees. | $157,320 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,976,892 |
| Pension plan accruals and contributions | $52,076 |
| Other employee benefits | $372,541 |
| Payroll taxes | $462,937 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $553,750 |
| Advertising and promotion | $132,715 |
| Office expenses | $1,140 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $773,724 |
| Travel | $56,172 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,368 |
| Interest | $148,345 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $480,176 |
| Insurance | $443,915 |
| All other expenses | $502,157 |
| Total functional expenses | $11,369,048 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,904,924 |
| Savings and temporary cash investments | $797,989 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $842,317 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,423 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $8,490,025 |
| Investments—publicly traded securities | $1,581,673 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $701,057 |
| Other assets | $205,465 |
| Total assets | $15,532,873 |
| Accounts payable and accrued expenses | $594,838 |
| Grants payable | $0 |
| Deferred revenue | $22,351 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,539,063 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,156,252 |
| Net assets without donor restrictions | $11,376,621 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,532,873 |