Bridge of Storm Lake

Analysis

Bridge of Storm Lake is a registered charity in United States, based in Storm Lake, IA. It received its IRS tax-exemption ruling in July 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 February 2023, Bridge of Storm Lake reported income of $325k and spending of $288k, spending 89% of its income. Across the 4 years on record, from February 2020 to February 2023, income grew from $323k to $325k (+0.8%), an average of +0.3% a year. The sharpest change came in the year to February 2023, when income rose by 20%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bridge of Storm Lake sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 65th percentile within IA. Charities of a similar size with the same main cause include Friends of Raymond James Inc ($325k), Guiding Star Project ($325k) and Women Are Dreamers Too ($325k).

On its Form 990 for the period ending February 2023, revenue came from contributions and grants 79% and program service revenue 6.5% of the total. Compensation of current officers, directors and key employees was $32k (11% of expenses). At year end it held assets of $361k against liabilities of $150k, net assets of $211k. It reported 7 employees.