Lake Area Recovery Center Inc

Analysis

Lake Area Recovery Center Inc is a registered charity in United States, based in Ashtabula, OH. It received its IRS tax-exemption ruling in February 1968, 58 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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 June 2023, Lake Area Recovery Center Inc reported income of $3.6m and spending of $3.9m, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.9m to $3.6m (+23%), an average of +5.3% a year. The sharpest change came in the year to June 2021, when income rose by 30%. Over the whole period it spent 92% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lake Area Recovery Center Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within OH. Charities of a similar size with the same main cause include Wellness House ($3.6m), Adventhealth Kansas City Foundation ($3.6m) and Camai Community Health Center Inc ($3.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 4.5% of the total. Compensation of current officers, directors and key employees was $186k (4.7% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $3.5m against liabilities of $1.1m, net assets of $2.4m. It reported 81 employees.