Glenwood Lakes Area Welcome Center

Analysis

Glenwood Lakes Area Welcome Center is a registered charity in United States, based in Glenwood, MN. It received its IRS tax-exemption ruling in August 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, Glenwood Lakes Area Welcome Center reported income of $116k and spending of $97k, spending 84% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $89k to $116k (+30%), an average of +9.2% a year. The sharpest change came in the year to December 2023, when income rose by 19%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Glenwood Lakes Area Welcome Center sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 38th percentile within MN. Charities of a similar size with the same main cause include Westside Neighborhood Development Corporation ($116k), Acpha-Cahm Joint Commission Inc ($116k) and South Euclid Community Urban Redevelopment Corporation ($116k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 76% of the total. At year end it held assets of $207k against liabilities of $67k, net assets of $140k.