Lake Minnetonka Sailing School Inc

Analysis

Lake Minnetonka Sailing School Inc is a registered charity in United States, based in Excelsior, MN. It received its IRS tax-exemption ruling in September 1972, 54 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 Minnetonka Sailing School Inc reported income of $747k and spending of $622k, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $403k to $747k (+85%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 55%. Over the whole period it spent 103% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Lake Minnetonka Sailing School Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MN. Charities of a similar size with the same main cause include Altus Math ($747k), 4 Eagle Foundation ($747k) and United States Racquetball Association ($747k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.8% and program service revenue 77% of the total. Other salaries and wages came to $264k. At year end it held assets of $1.0m against liabilities of $0, net assets of $1.0m. It reported 43 employees.