The Lighthouse of Southern MN

Analysis

The Lighthouse of Southern MN is a registered charity in United States, based in Owatonna, MN. It received its IRS tax-exemption ruling in August 2010, 16 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, The Lighthouse of Southern MN reported income of $368k and spending of $229k, leaving 38% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income fell from $457k to $368k (-19%), an average of -6.9% a year. The sharpest change came in the year to December 2023, when income rose by 273%. Over the whole period it spent 65% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, The Lighthouse of Southern MN sits at the 51st percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 64th percentile within MN. Charities of a similar size with the same main cause include Daltons Greater Works ($368k), Ahepa Dop 54 Phase II Inc ($369k) and Hearthstone at Hover Crossing ($368k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% of the total. Other salaries and wages came to $160k. At year end it held assets of $564k against liabilities of $6,975, net assets of $557k. It reported 8 employees.