City of Lakes Community Land Trust

Analysis

City of Lakes Community Land Trust is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in July 2003, 23 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, City of Lakes Community Land Trust reported income of $13.3m and spending of $2.2m, leaving 83% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $13.3m (+638%), an average of +65% a year. The sharpest change came in the year to December 2023, when income rose by 487%. Over the whole period it spent 48% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, City of Lakes Community Land Trust sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include Center for the Developmentally Disabled ($13.3m), Contra Costa Interfaith Transitional Housing Inc ($13.4m) and Nid Housing Counseling Agency ($13.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $396k (18% of expenses). Other salaries and wages came to $170k. At year end it held assets of $32.1m against liabilities of $15.2m, net assets of $16.9m. It reported 8 employees.