Lakeland Foundation

Analysis

Lakeland Foundation is a registered charity in United States, based in Kirtland, OH. It received its IRS tax-exemption ruling in September 1982, 44 years ago. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lakeland Foundation reported income of $4.1m and spending of $1.1m, leaving 73% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.7m to $4.1m (+140%), an average of +24% a year. The sharpest change came in the year to June 2023, when income rose by 100%. Over the whole period it spent 52% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lakeland Foundation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within OH. Charities of a similar size with the same main cause include St Joseph Montessori School ($4.1m), Urban League of Cleveland ($4.1m) and Family Advocates Inc ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% of the total. At year end it held assets of $11.0m against liabilities of $71k, net assets of $10.9m.