Lake Superior YMCA

Analysis

Lake Superior YMCA is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in August 1942, 84 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lake Superior YMCA reported income of $13.1m and spending of $12.9m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.3m to $13.1m (+80%), an average of +16% a year. The sharpest change came in the year to December 2020, when income rose by 38%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lake Superior YMCA sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include University Muslim Medical Association Inc ($13.1m), Hospice Care in the Berkshires Inc ($13.1m) and Yad Eliezer USA Inc ($13.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $481k (3.7% of expenses). Other salaries and wages came to $6.9m. At year end it held assets of $21.9m against liabilities of $2.0m, net assets of $19.9m. It reported 776 employees.