Lake Superior Community Development Corp

Analysis

Lake Superior Community Development Corp is a registered charity in United States, based in Lanse, MI. It received its IRS tax-exemption ruling in November 2008, 18 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 September 2023, Lake Superior Community Development Corp reported income of $1.2m and spending of $333k, leaving 72% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $313k to $1.2m (+284%), an average of +40% a year. The sharpest change came in the year to September 2021, when income rose by 238%. Over the whole period it spent 49% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lake Superior Community Development Corp 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 81st percentile, and in the 81st percentile within MI. Charities of a similar size with the same main cause include Dpas Assist the Officer Foundation ($1.2m), Quest Therapeutic Services Inc ($1.2m) and Georgetown Harmony Homes ($1.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 78% and program service revenue 21% of the total. Other salaries and wages came to $204k. At year end it held assets of $4.8m against liabilities of $1.7m, net assets of $3.1m. It reported 5 employees.