Lakes Region Scholarship Foundation

Analysis

Lakes Region Scholarship Foundation is a registered charity in United States, based in Laconia, NH. It received its IRS tax-exemption ruling in May 1958, 68 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, Lakes Region Scholarship Foundation reported income of $1.9m and spending of $824k, leaving 55% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $599k to $1.9m (+209%), an average of +33% a year. The sharpest change came in the year to December 2021, when income rose by 179%. Over the whole period it spent 47% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lakes Region Scholarship Foundation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within NH. Charities of a similar size with the same main cause include Luminarts Cultural Foundation at the Union League Club of Chicago ($1.9m), Rose Hill Community Center ($1.9m) and Redwood Empire Public Television ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% of the total. Compensation of current officers, directors and key employees was $85k (10% of expenses). Other salaries and wages came to $30k. At year end it held assets of $14.6m against liabilities of $0, net assets of $14.6m. It reported 4 employees.