Lake Care Inc

Analysis

Lake Care Inc is a registered charity in United States, based in Mount Dora, FL. It received its IRS tax-exemption ruling in May 2010, 16 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, Lake Care Inc reported income of $6.6m and spending of $3.3m, leaving 50% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $6.6m (+262%), an average of +38% a year. The sharpest change came in the year to December 2023, when income rose by 116%. Over the whole period it spent 74% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lake Care Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within FL. Charities of a similar size with the same main cause include Jersey Battered Womens Service ($6.6m), Catholic Charities of Orange County ($6.6m) and Servtech ($6.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $5.5m against liabilities of $17k, net assets of $5.5m. It reported 15 employees.