Valley Lake Boys Home Inc

Analysis

Valley Lake Boys Home Inc is a registered charity in United States, based in Breckenridge, MN. It received its IRS tax-exemption ruling in July 1975, 51 years ago. 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, Valley Lake Boys Home Inc reported income of $882k and spending of $881k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $724k to $882k (+22%), an average of +5.0% a year. The sharpest change came in the year to December 2023, when income rose by 47%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Valley Lake Boys Home Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within MN. Charities of a similar size with the same main cause include Future Farmers of America ($882k), Routt County Humane Society Inc ($882k) and Brockton Electricians Joint Apprenticeship and Training Trust ($881k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.9% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $40k (4.5% of expenses). Other salaries and wages came to $438k. At year end it held assets of $991k against liabilities of $129k, net assets of $862k. It reported 21 employees.