Laketown Gym

Analysis

Laketown Gym is a registered charity in United States, based in Waconia, MN. It received its IRS tax-exemption ruling in August 2013, 13 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Laketown Gym reported income of $986k and spending of $908k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $908k to $986k (+8.6%), an average of +2.1% a year. The sharpest change came in the year to December 2021, when income rose by 87%. Over the whole period it spent 92% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Laketown Gym sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within MN. Charities of a similar size with the same main cause include Storyland and Playland Inc ($986k), South Orlando Soccer Club Inc ($987k) and Northwest United FC ($985k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $59k (6.5% of expenses). Other salaries and wages came to $378k. At year end it held assets of $1.6m against liabilities of $1.3m, net assets of $287k. It reported 59 employees.