Head of the Lakes United Way Trust

Analysis

Head of the Lakes United Way Trust is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in February 1967, 59 years ago. 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, Head of the Lakes United Way Trust reported income of $316k and spending of $339k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $221k to $316k (+43%), an average of +9.3% a year. The sharpest change came in the year to December 2022, when income rose by 21%. Over the whole period it spent 112% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Head of the Lakes United Way Trust sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 61st percentile within MN. Charities of a similar size with the same main cause include Beaufort Womens Center ($316k), Beth-El Shalom Senior Citizens Center Inc ($316k) and Ukrainian Institute of Modern Art ($316k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 27% of the total. At year end it held assets of $6.5m against liabilities of $205k, net assets of $6.3m.

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.