Victory Lakeside Inc

Analysis

Victory Lakeside Inc is a registered charity in United States, based in Rockville, MD. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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 December 2023, Victory Lakeside Inc reported income of $693k and spending of $810k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $687k to $693k (+0.9%), an average of +0.2% a year. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Victory Lakeside Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within MD. Charities of a similar size with the same main cause include Hillel the Foundation for Jewish Campus Life ($693k), Middletown Free Library Assoc Inc ($693k) and St Josephs Historic Foundation Inc ($693k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $41k. At year end it held assets of $3.3m against liabilities of $2.8m, net assets of $511k.