Admiral at the Lake

Analysis

Admiral at the Lake is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in March 1935, 91 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Admiral at the Lake reported income of $24.7m and spending of $30.8m, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $21.6m to $24.7m (+14%), an average of +3.4% a year. Over the whole period it spent 128% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Admiral at the Lake sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within IL. Charities of a similar size with the same main cause include Urban League of Portland ($24.7m), Community Systems Inc ($24.7m) and Open Door Network ($24.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.3% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $1.3m (4.2% of expenses). Other salaries and wages came to $7.7m. At year end it held assets of $136.6m against liabilities of $295.7m, net assets of -$159.1m. It reported 278 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.