Lake City Music Boosters

Analysis

Lake City Music Boosters is a registered charity in United States, based in Lake City, MN. It received its IRS tax-exemption ruling in July 2009, 17 years ago. Its declared purposes cover education, which this site groups under education and training. 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 July 2024, Lake City Music Boosters reported income of $83k and spending of $51k, leaving 38% of income unspent that year. Across the 6 years on record, from July 2019 to July 2024, income grew from $48k to $83k (+73%), an average of +12% a year. The sharpest change came in the year to July 2022, when income rose by 135%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lake City Music Boosters sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 29th percentile within MN. Charities of a similar size with the same main cause include Hope Christian School Foundation ($83k), Parent Booster USA Inc ($83k) and Association for Music and Imagery Inc ($83k).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 13% and program service revenue 37% of the total. At year end it held assets of $117k against liabilities of $0, net assets of $117k.