Lakeridge Village Inc

Analysis

Lakeridge Village Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in June 2007, 19 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2022, Lakeridge Village Inc reported income of $1.2m and spending of $1.2m, spending 100% of its income. Across the 5 years on record, from September 2017 to September 2022, income grew from $745k to $1.2m (+63%), an average of +13% a year. The sharpest change came in the year to September 2022, when income rose by 211%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lakeridge Village Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within MI. Charities of a similar size with the same main cause include Childrens Homes of Iredell County Inc ($1.2m), Help Agency of the Forest Inc ($1.2m) and Excellent Community Services Inc ($1.2m).

On its Form 990 for the period ending September 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $208k against liabilities of $200k, net assets of $7,207.