Spirit of the Lake Community Arts

Analysis

Spirit of the Lake Community Arts is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in February 2014, 12 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 June 2023, Spirit of the Lake Community Arts reported income of $249k and spending of $334k, spending 134% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $303k to $249k (-18%), an average of -4.7% a year. The sharpest change came in the year to June 2023, when income dropped by 39%. Over the whole period it spent 114% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Spirit of the Lake Community Arts sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 57th percentile within MN. Charities of a similar size with the same main cause include Cristo Rey Dallas Academic Center ($249k), Northstar Tutoring ($249k) and Byrne Institute ($249k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 22% and program service revenue 77% of the total. Other salaries and wages came to $240k. At year end it held assets of $396k against liabilities of $501k, net assets of -$105k. It reported 28 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.