Lake Area Foundation Inc

Analysis

Lake Area Foundation Inc is a registered charity in United States, based in Russell SPGS, KY. It received its IRS tax-exemption ruling in February 2014, 12 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 June 2024, Lake Area Foundation Inc reported income of $217k and spending of $45k, leaving 79% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $111k to $217k (+96%), an average of +18% a year. The sharpest change came in the year to June 2024, when income rose by 220%. Over the whole period it spent 20% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Lake Area Foundation Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 55th percentile within KY. Charities of a similar size with the same main cause include Sharedimpact Foundation Inc ($217k), United Way of Hastings ($217k) and Jordan & Kyra Memorial Foundation ($217k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 80% of the total. At year end it held assets of $1.5m against liabilities of $0, net assets of $1.5m.