Greater Lake City Community Foundation

Analysis

Greater Lake City Community Foundation is a registered charity in United States, based in Lake City, MN. It received its IRS tax-exemption ruling in March 2013, 13 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Greater Lake City Community Foundation reported income of $139k and spending of $40k, leaving 71% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $50k to $139k (+178%), an average of +41% a year. The sharpest change came in the year to December 2021, when income rose by 190%. Over the whole period it spent 26% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater Lake City Community Foundation sits at the 43rd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 43rd percentile within MN. Charities of a similar size with the same main cause include Friends of Congress Square Park ($139k), Junior League of Birmingham Mich Inc ($139k) and Junior League of Santa Barbara Inc ($139k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. At year end it held assets of $548k against liabilities of $0, net assets of $548k.