Lakes Area Food Shelf Incorporated

Analysis

Lakes Area Food Shelf Incorporated is a registered charity in United States, based in Pequot Lakes, MN. It received its IRS tax-exemption ruling in May 1992, 34 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 Area Food Shelf Incorporated reported income of $967k and spending of $520k, leaving 46% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $383k to $967k (+152%), an average of +36% a year. The sharpest change came in the year to December 2022, when income rose by 64%. Over the whole period it spent 56% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lakes Area Food Shelf Incorporated sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within MN. Charities of a similar size with the same main cause include Joy Ranch of South Dakota ($967k), Meals on Wheels of Horry County ($967k) and Albany Mennonite Home-Village Foundation Inc ($967k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $32k (6.1% of expenses). Other salaries and wages came to $21k. At year end it held assets of $1.3m against liabilities of $18k, net assets of $1.3m. It reported 2 employees.