Lake Minnetonka Figure Skating Club

Analysis

Lake Minnetonka Figure Skating Club is a registered charity in United States, based in Minnetonka, MN. It received its IRS tax-exemption ruling in April 1984, 42 years ago. 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 June 2023, Lake Minnetonka Figure Skating Club reported income of $289k and spending of $256k, spending 89% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $179k to $289k (+62%), an average of +62% a year. The sharpest change came in the year to June 2023, when income rose by 62%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake Minnetonka Figure Skating Club sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 60th percentile within MN. Charities of a similar size with the same main cause include Nahnum Church ($289k), Leominster Development Corporation ($289k) and Atlantic City Ballet ($289k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% and program service revenue 83% of the total. At year end it held assets of $262k against liabilities of $0, net assets of $262k.