Lake Superior State University Foundation

Analysis

Lake Superior State University Foundation is a registered charity in United States, based in Sault S Marie, MI. It received its IRS tax-exemption ruling in August 1985, 41 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lake Superior State University Foundation reported income of $3.6m and spending of $2.2m, leaving 40% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $3.5m to $3.6m (+3.5%), an average of +1.2% a year. The sharpest change came in the year to June 2021, when income rose by 26%. Over the whole period it spent 65% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lake Superior State University Foundation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within MI. Charities of a similar size with the same main cause include Trabajamos Community Headstart Inc ($3.6m), Mingo Valley Christian School Inc ($3.6m) and Winston Salem Christian School ($3.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 75% of the total. Compensation of current officers, directors and key employees was $108k (5.0% of expenses). Other salaries and wages came to $147k. At year end it held assets of $25.8m against liabilities of $46k, net assets of $25.7m.