I am completely new to Lightroom.
Is Lightroom cc the latest upgrade?
Can I upload my entire iPhoto library on it (thousands of photos/events) and organize it into folders at a later date?
Lightroom CC 2015.6.1 is the latest version of Lightroom creative cloud.
Yes, you may import the images from iPhoto to Lightroom, however there is no specific plugin in Lightroom for it.