Lima Area Chamber Foundation

Analysis

Lima Area Chamber Foundation is a registered charity in United States, based in Lima, OH. It received its IRS tax-exemption ruling in June 1987, 39 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, Lima Area Chamber Foundation reported income of $504k and spending of $452k, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $352k to $504k (+43%), an average of +9.4% a year. The sharpest change came in the year to December 2021, when income rose by 79%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lima Area Chamber Foundation sits at the 69th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within OH. Charities of a similar size with the same main cause include Big Creek People in Action Inc ($504k), Community Concerns Inc ($504k) and Willkie House Incorporated ($504k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 8.2% of the total. Other salaries and wages came to $56k. At year end it held assets of $7.5m against liabilities of $5.8m, net assets of $1.7m.