Lake Forest Swim Club

Analysis

Lake Forest Swim Club is a registered charity in United States, based in Lake Forest, IL. It received its IRS tax-exemption ruling in December 1985, 41 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 Forest Swim Club reported income of $299k and spending of $273k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $377k to $299k (-21%), an average of -5.6% a year. The sharpest change came in the year to December 2021, when income rose by 50%. Over the whole period it spent 92% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Lake Forest Swim Club sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 62nd percentile within IL. Charities of a similar size with the same main cause include Ogle County Fair Association ($299k), Little League Baseball Inc ($299k) and East Bay Golf Foundation ($299k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $120k (44% of expenses). Other salaries and wages came to $13k. At year end it held assets of $196k against liabilities of $11k, net assets of $186k. It reported 2 employees.