Lake County Community Foundation

Analysis

Lake County Community Foundation is a registered charity in United States, based in Grayslake, IL. It received its IRS tax-exemption ruling in April 2022, 4 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 September 2023, Lake County Community Foundation reported income of $4.8m and spending of $2.6m, leaving 45% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.9m to $4.8m (+154%), an average of +26% a year. The sharpest change came in the year to September 2021, when income rose by 241%. Over the whole period it spent 50% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Lake County Community Foundation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within IL. Charities of a similar size with the same main cause include Hope for New York ($4.8m), United Way of Acadiana Inc ($4.8m) and United Way of Broome County Inc ($4.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 87% and program service revenue 3.8% of the total. Compensation of current officers, directors and key employees was $109k (4.2% of expenses). Other salaries and wages came to $387k. At year end it held assets of $20.5m against liabilities of $249k, net assets of $20.2m. It reported 6 employees.