Head of the Lakes United Way

Analysis

Head of the Lakes United Way is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in August 1962, 64 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 June 2023, Head of the Lakes United Way reported income of $1.6m and spending of $1.8m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.2m to $1.6m (-28%), an average of -8.0% a year. Over the whole period it spent 108% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Head of the Lakes United Way sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MN. Charities of a similar size with the same main cause include Partnership for the Future Inc ($1.6m), Panorama Benevolent Fund ($1.6m) and Combined Health Agencies Drive Inc ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $209k (11% of expenses). Other salaries and wages came to $372k. At year end it held assets of $8.2m against liabilities of $718k, net assets of $7.5m. It reported 13 employees.