United Way of the Lakeshore Inc

Analysis

United Way of the Lakeshore Inc is a registered charity in United States, based in Muskegon, MI. It received its IRS tax-exemption ruling in January 1965, 61 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, United Way of the Lakeshore Inc reported income of $2.4m and spending of $3.0m, spending 122% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.7m to $2.4m (-8.3%), an average of -2.1% a year. The sharpest change came in the year to December 2023, when income dropped by 29%. Over the whole period it spent 107% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, United Way of the Lakeshore Inc sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within MI. Charities of a similar size with the same main cause include Highgate Charitable Foundation Inc ($2.4m), New Life Thrift Inc ($2.5m) and Batonga Foundation ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $118k (4.0% of expenses). Other salaries and wages came to $636k. At year end it held assets of $3.3m against liabilities of $244k, net assets of $3.1m. It reported 22 employees.

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.