Greater Lake City Alliance

Analysis

Greater Lake City Alliance is a registered charity in United States, based in Lake City, SC. It received its IRS tax-exemption ruling in April 2016, 10 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 Alliance reported income of $13.3m and spending of $6.5m, leaving 51% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income fell from $23.6m to $13.3m (-43%), an average of -11% a year. The sharpest change came in the year to December 2021, when income rose by 391%. Over the whole period it spent 30% 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 Alliance sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within SC. Charities of a similar size with the same main cause include New York District Council CRPNTRS Apprntcshp Jrnymn Retraing Educa ($13.3m), National Telecommuting Institute ($13.3m) and Southwest Initiative Foundation ($13.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 27% of the total. Other salaries and wages came to $605k. At year end it held assets of $88.4m against liabilities of $52k, net assets of $88.3m. It reported 11 employees.