Lake County Council on Aging

Analysis

Lake County Council on Aging is a registered charity in United States, based in Mentor, OH. It received its IRS tax-exemption ruling in October 1973, 53 years ago. 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, Lake County Council on Aging reported income of $3.6m and spending of $3.1m, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.7m to $3.6m (+32%), an average of +7.2% a year. The sharpest change came in the year to December 2023, when income rose by 33%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake County Council on Aging 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 90th percentile, and in the 90th percentile within OH. Charities of a similar size with the same main cause include Center Associates ($3.6m), Saint Josephs Home of Our Lady of Mt Carmel Inc ($3.6m) and California Consortium for Urbanindian Health Inc ($3.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 7.2% of the total. Compensation of current officers, directors and key employees was $130k (4.2% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $4.5m against liabilities of $292k, net assets of $4.2m. It reported 51 employees.