United Way of Lake County Inc

Analysis

United Way of Lake County Inc is a registered charity in United States, based in Gurnee, IL. It received its IRS tax-exemption ruling in May 1947, 79 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 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, United Way of Lake County Inc reported income of $6.6m and spending of $6.8m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $7.6m to $6.6m (-13%), an average of -3.4% a year. The sharpest change came in the year to June 2021, when income dropped by 37%. Over the whole period it spent 102% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, United Way of Lake County Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within IL. Charities of a similar size with the same main cause include United Way of the Coastal Bend Inc ($6.6m), United Way of Greater Greensboro Inc ($6.6m) and International Initiative for Impact Evaluation Inc ($6.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $220k (3.2% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $9.9m against liabilities of $1.1m, net assets of $8.9m. It reported 30 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.