Lake Area Technical College Foundation

Analysis

Lake Area Technical College Foundation is a registered charity in United States, based in Watertown, SD. It received its IRS tax-exemption ruling in April 1993, 33 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2024, Lake Area Technical College Foundation reported income of $2.0m and spending of $16.0m, spending 811% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $2.5m to $2.0m (-22%), an average of -4.8% a year. The sharpest change came in the year to June 2021, when income rose by 637%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lake Area Technical College Foundation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within SD. Charities of a similar size with the same main cause include Wisconsin School of Professional Psychology Inc ($2.0m), East Lake Academy ($2.0m) and Barrington Christian Academy ($2.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 105% of the total. At year end it held assets of $13.3m against liabilities of $622k, net assets of $12.6m.