Golden Lotus Inc

Analysis

Golden Lotus Inc is a registered charity in United States, based in Vanderbilt, MI. It received its IRS tax-exemption ruling in April 1971, 55 years ago. 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, Golden Lotus Inc reported income of $590k and spending of $573k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $647k to $590k (-8.9%), an average of -2.3% a year. The sharpest change came in the year to December 2023, when income dropped by 37%. Over the whole period it spent 60% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Golden Lotus Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within MI. Charities of a similar size with the same main cause include Auxiliary of the Lehigh Valley Hospital Center ($590k), Galena-Jo Daviess County Historical Society ($590k) and Alabama Jazz Hall of Fame Inc ($590k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $36k (6.3% of expenses). Other salaries and wages came to $112k. At year end it held assets of $2.8m against liabilities of $28k, net assets of $2.8m. It reported 12 employees.