Lake Mills Entertainment Inc

Analysis

Lake Mills Entertainment Inc is a registered charity in United States, based in Lake Mills, IA. It received its IRS tax-exemption ruling in February 2003, 23 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Lake Mills Entertainment Inc reported income of $148k and spending of $151k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $152k to $148k (-2.4%), an average of -0.6% a year. The sharpest change came in the year to December 2023, when income rose by 58%. Over the whole period it spent 115% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lake Mills Entertainment Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 47th percentile within IA. Charities of a similar size with the same main cause include Northport Arts Association ($148k), Central Texas Bengali Association ($148k) and Calistoga Art Center Inc ($148k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 79% of the total. Other salaries and wages came to $23k. At year end it held assets of $1.2m against liabilities of $182k, net assets of $1.1m. It reported 7 employees.

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.