Lakes Area Senior Activity Center Inc

Analysis

Lakes Area Senior Activity Center Inc is a registered charity in United States, based in Brainerd, MN. It received its IRS tax-exemption ruling in October 1979, 47 years ago. 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 December 2023, Lakes Area Senior Activity Center Inc reported income of $380k and spending of $390k, spending 102% of its income. Across the 4 years on record, from December 2019 to December 2023, income fell from $695k to $380k (-45%), an average of -18% a year. The sharpest change came in the year to December 2020, when income dropped by 47%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lakes Area Senior Activity Center Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within MN. Charities of a similar size with the same main cause include The Lansdowne Fire Company ($380k), Wooster Community Hospital Auxiliary Inc ($380k) and United Corpus Christi Chamber Foundation ($380k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $64k (16% of expenses). Other salaries and wages came to $64k. At year end it held assets of $1.3m against liabilities of $13k, net assets of $1.3m. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.