Lake Washington Improvement Association Inc

Analysis

Lake Washington Improvement Association Inc is a registered charity in United States, based in Mankato, MN. It received its IRS tax-exemption ruling in January 1992, 34 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 Washington Improvement Association Inc reported income of $72k and spending of $87k, spending 120% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $184k to $72k (-61%), an average of -27% a year. The sharpest change came in the year to June 2022, when income dropped by 81%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake Washington Improvement Association Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 25th percentile within MN. Charities of a similar size with the same main cause include Okoboji Protective Association ($72k), Community Hospital Foundation ($72k) and Crime Solvers of Prince Georges County MD Inc ($72k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% of the total. At year end it held assets of $334k against liabilities of $2,121, net assets of $332k.

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.