Local Media Foundation

Analysis

Local Media Foundation is a registered charity in United States, based in Lake City, MI. It received its IRS tax-exemption ruling in April 2003, 23 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Local Media Foundation reported income of $6.6m and spending of $6.0m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $6.6m (+313%), an average of +43% a year. The sharpest change came in the year to December 2020, when income rose by 246%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Local Media Foundation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within MI. Charities of a similar size with the same main cause include Soaring Eagle ($6.6m), CCH Individualized Support Services Inc ($6.6m) and Alternative Rehabilitation Communities Inc ($6.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $465k (7.8% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $4.3m against liabilities of $2.1m, net assets of $2.2m.