Lake Area Industries Inc

Analysis

Lake Area Industries Inc is a registered charity in United States, based in Camdenton, MO. It received its IRS tax-exemption ruling in August 1983, 43 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lake Area Industries Inc reported income of $1.1m and spending of $876k, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $939k to $1.1m (+15%), an average of +3.6% a year. The sharpest change came in the year to December 2020, when income rose by 25%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake Area Industries Inc sits at the 79th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 78th percentile within MO. Charities of a similar size with the same main cause include University of South Alabama General Liability Program ($1.1m), Art Community Center of Corpus Christi Inc ($1.1m) and Evangelical Lutheran Church in America ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $78k (8.9% of expenses). Other salaries and wages came to $428k. At year end it held assets of $1.6m against liabilities of $13k, net assets of $1.5m. It reported 71 employees.