Lakes Life Care Center

Analysis

Lakes Life Care Center is a registered charity in United States, based in Forest Lake, MN. It received its IRS tax-exemption ruling in July 1995, 31 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Life Care Center reported income of $333k and spending of $245k, leaving 26% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $293k to $333k (+14%), an average of +6.6% a year. The sharpest change came in the year to December 2023, when income rose by 21%. Over the whole period it spent 73% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lakes Life Care Center sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 62nd percentile within MN. Charities of a similar size with the same main cause include Peace Center ($333k), Forward Foundation ($333k) and Neighborhood Improvement Association Inc ($333k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% of the total. Other salaries and wages came to $96k. At year end it held assets of $480k against liabilities of $0, net assets of $480k. It reported 4 employees.