Great Lakes Bay Foundation

Analysis

Great Lakes Bay Foundation is a registered charity in United States, based in Bay City, MI. It received its IRS tax-exemption ruling in February 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 December 2023, Great Lakes Bay Foundation reported income of $680k and spending of $776k, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $469k to $680k (+45%), an average of +9.7% a year. The sharpest change came in the year to December 2023, when income rose by 29%. Over the whole period it spent 123% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Great Lakes Bay Foundation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within MI. Charities of a similar size with the same main cause include Hope of Winston Salem Inc ($680k), Solutions for Independence ($681k) and Bloom India Development Foundation Inc ($680k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $76k (9.8% of expenses). Other salaries and wages came to $348k. At year end it held assets of $244k against liabilities of $298k, net assets of -$54k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.