Northern Lakes Economic Alliance

Analysis

Northern Lakes Economic Alliance is a registered charity in United States, based in Boyne City, MI. It received its IRS tax-exemption ruling in March 1996, 30 years ago. Its declared purposes cover unknown, which this site groups under other charitable 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 September 2023, Northern Lakes Economic Alliance reported income of $469k and spending of $558k, spending 119% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $548k to $469k (-14%), an average of -3.8% a year. The sharpest change came in the year to September 2021, when income dropped by 22%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Northern Lakes Economic Alliance sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within MI. Charities of a similar size with the same main cause include Winnipesaukee Skating Club Inc ($469k), Washington State Arts Alliance Foundation ($469k) and Leadership Columbus ($469k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 87% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $76k (14% of expenses). Other salaries and wages came to $299k. At year end it held assets of $441k against liabilities of $109k, net assets of $332k. It reported 6 employees.