Lakes Area Enrichment Center

Analysis

Lakes Area Enrichment Center is a registered charity in United States, based in Starbuck, MN. It received its IRS tax-exemption ruling in January 2012, 14 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Lakes Area Enrichment Center reported income of $791k and spending of $832k, spending 105% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $620k to $791k (+28%), an average of +8.5% a year. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lakes Area Enrichment Center sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MN. Charities of a similar size with the same main cause include Green Childrens House Foundation ($790k), School City of Mishawaka Education Foundation Inc ($791k) and Sierra Madre Community Nursery School Association ($790k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 20% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $35k (4.2% of expenses). Other salaries and wages came to $566k. At year end it held assets of $209k against liabilities of $1,099, net assets of $208k.