Lao Assistance Center of Minnesota

Analysis

Lao Assistance Center of Minnesota is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in November 1983, 43 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 June 2023, Lao Assistance Center of Minnesota reported income of $1.7m and spending of $1.5m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $233k to $1.7m (+609%), an average of +63% a year. The sharpest change came in the year to June 2020, when income rose by 77%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lao Assistance Center of Minnesota sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within MN. Charities of a similar size with the same main cause include Roslyn Managers Corporation ($1.7m), We Will Collective Incorporated ($1.7m) and Earl Carl Institute for Legal and Social Policy Inc ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $639k. It paid $35k in professional fundraising fees. At year end it held assets of $588k against liabilities of $91k, net assets of $497k. It reported 19 employees.