Lake Ridge Care Center of Buffalo Inc

Analysis

Lake Ridge Care Center of Buffalo Inc is a registered charity in United States, based in Edina, MN. It received its IRS tax-exemption ruling in November 2004, 22 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lake Ridge Care Center of Buffalo Inc reported income of $9.3m and spending of $9.4m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.4m to $9.3m (+27%), an average of +6.2% a year. The sharpest change came in the year to December 2023, when income rose by 21%. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lake Ridge Care Center of Buffalo Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MN. Charities of a similar size with the same main cause include Umpqua Community Development Corporation ($9.3m), Habitat for Humanity International Inc ($9.4m) and Saints Incorporated ($9.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.7% and program service revenue 99% of the total. Other salaries and wages came to $4.6m. At year end it held assets of $5.8m against liabilities of $2.4m, net assets of $3.3m. It reported 225 employees.