Lakewood Foundation

Analysis

Lakewood Foundation is a registered charity in United States, based in Lakewood, OH. It received its IRS tax-exemption ruling in August 2014, 12 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a governmental unit under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lakewood Foundation reported income of $548k and spending of $249k, leaving 55% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.0m to $548k (-73%), an average of -28% a year. The sharpest change came in the year to December 2020, when income dropped by 84%. Over the whole period it spent 33% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Lakewood Foundation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within OH. Charities of a similar size with the same main cause include United Fund of Westfield NJ ($547k), Enhance LA Jolla ($548k) and Sweet Repeat Charitable Foundation ($547k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% and program service revenue 18% of the total. At year end it held assets of $2.9m against liabilities of $0, net assets of $2.9m.