Lake Superior College Foundation Inc

Analysis

Lake Superior College Foundation Inc is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in February 1984, 42 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, Lake Superior College Foundation Inc reported income of $390k and spending of $482k, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $719k to $390k (-46%), an average of -14% a year. The sharpest change came in the year to June 2022, when income rose by 121%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake Superior College Foundation Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within MN. Charities of a similar size with the same main cause include Goldendale Community Housing Corp ($390k), Rancho Santa Fe Community Center Inc ($390k) and Fundacion Modesto Gotay Pro Personas Con Discapacidad Intelect ($390k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% of the total. At year end it held assets of $1.9m against liabilities of $0, net assets of $1.9m.