Lake Trust Credit Union Foundation

Analysis

Lake Trust Credit Union Foundation is a registered charity in United States, based in Brighton, MI. It received its IRS tax-exemption ruling in October 2012, 14 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Trust Credit Union Foundation reported income of $375k and spending of $180k, leaving 52% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $209k to $375k (+79%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 45%. Over the whole period it spent 53% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lake Trust Credit Union Foundation sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within MI. Charities of a similar size with the same main cause include Saint Joseph University Foundation Beirut Inc ($375k), Faith Academy Inc ($375k) and Fluvanna Meals on Wheels Inc ($375k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. At year end it held assets of $981k against liabilities of $5,500, net assets of $976k.