Friends of Lakeside Lab Inc

Analysis

Friends of Lakeside Lab Inc is a registered charity in United States, based in Milford, IA. It received its IRS tax-exemption ruling in August 1995, 31 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 December 2023, Friends of Lakeside Lab Inc reported income of $1.2m and spending of $386k, leaving 68% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $358k to $1.2m (+237%), an average of +36% a year. The sharpest change came in the year to December 2021, when income rose by 100%. Over the whole period it spent 42% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Lakeside Lab Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 83rd percentile within IA. Charities of a similar size with the same main cause include Sussex Christian School Assn ($1.2m), Warner Avenue Foundation ($1.2m) and Ephrata Public Library ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $50k (13% of expenses). It paid $22k in professional fundraising fees. At year end it held assets of $5.0m against liabilities of $9,688, net assets of $5.0m. It reported 2 employees.