Great Lakes Biomimicry Inc

Analysis

Great Lakes Biomimicry Inc is a registered charity in United States, based in Brook Park, OH. It received its IRS tax-exemption ruling in November 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Great Lakes Biomimicry Inc reported income of $100k and spending of $100k, spending 100% of its income. Across the 5 years on record, from December 2019 to June 2023, income fell from $227k to $100k (-56%), an average of -18% a year. The sharpest change came in the year to December 2022, when income rose by 1157%. Over the whole period it spent 117% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Great Lakes Biomimicry Inc sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 37th percentile within OH. Charities of a similar size with the same main cause include Venture Carolina ($100k), Heartstone Ministries ($100k) and Main Street Elkader Inc ($100k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 1.2% and program service revenue 99% of the total. At year end it held assets of $1 against liabilities of $0, net assets of $1.