Lake Michigan Sail Racing Federation Inc

Analysis

Lake Michigan Sail Racing Federation Inc is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in October 1981, 45 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Lake Michigan Sail Racing Federation Inc reported income of $63k and spending of $58k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $48k to $63k (+31%), an average of +6.9% a year. The sharpest change came in the year to December 2021, when income rose by 23%. Over the whole period it spent 87% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Lake Michigan Sail Racing Federation Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 24th percentile within MI. Charities of a similar size with the same main cause include Frewsburg Rod & Gun Club Inc ($63k), Bitterroot Bucs American Legion Baseball Team ($63k) and Friends of New Troy ($63k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% of the total. At year end it held assets of $831k against liabilities of $0, net assets of $831k.