Lake View Towers Residents Association Inc

Analysis

Lake View Towers Residents Association Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in November 1995, 31 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 View Towers Residents Association Inc reported income of $9.4m and spending of $9.7m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.2m to $9.4m (+1.2%), an average of +0.3% a year. Over the whole period it spent 127% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lake View Towers Residents Association Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within IL. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($9.4m), Housing and Services Inc ($9.4m) and Lake Ridge Care Center of Buffalo Inc ($9.3m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $854k. At year end it held assets of $45.0m against liabilities of $63.5m, net assets of -$18.5m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.