Lake Area Discovery Center

Analysis

Lake Area Discovery Center is a registered charity in United States, based in White Bear LK, MN. It received its IRS tax-exemption ruling in October 2000, 26 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Lake Area Discovery Center reported income of $9.5m and spending of $10.2m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.8m to $9.5m (+64%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 44%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lake Area Discovery Center sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within MN. Charities of a similar size with the same main cause include Lake Ridge Academy ($9.5m), Jackson Christian School Incorporated ($9.5m) and Renaissance Arts Academy ($9.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $201k (2.0% of expenses). Other salaries and wages came to $6.8m. At year end it held assets of $3.3m against liabilities of $379k, net assets of $3.0m. It reported 270 employees.