Lake County Partnership for Economic Development Inc

Analysis

Lake County Partnership for Economic Development Inc is a registered charity in United States, based in Lincolnshire, IL. It received its IRS tax-exemption ruling in March 1999, 27 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Lake County Partnership for Economic Development Inc reported income of $1.3m and spending of $1.3m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.3m (+4.6%), an average of +1.1% a year. The sharpest change came in the year to December 2022, when income dropped by 26%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lake County Partnership for Economic Development Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within IL. Charities of a similar size with the same main cause include Plumbing & Heating Jatc of Rochester Ua ($1.3m), Woonasquatucket Valley Community Build Inc ($1.3m) and Near & Far Aid Association Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $242k (19% of expenses). Other salaries and wages came to $367k. At year end it held assets of $1.3m against liabilities of $682k, net assets of $574k. It reported 5 employees.