Lakewoodalive

Analysis

Lakewoodalive is a registered charity in United States, based in Lakewood, OH. It received its IRS tax-exemption ruling in March 2004, 22 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 June 2023, Lakewoodalive reported income of $640k and spending of $527k, spending 82% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $442k to $640k (+45%), an average of +9.7% a year. The sharpest change came in the year to June 2021, when income rose by 33%. 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, Lakewoodalive sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within OH. Charities of a similar size with the same main cause include Hope Creek Charitable Foundation ($640k), South Dakota Development Corporation ($640k) and Atlanta Board of Realtors Educational Foundation Inc ($639k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $73k (14% of expenses). Other salaries and wages came to $244k. At year end it held assets of $681k against liabilities of $33k, net assets of $648k. It reported 7 employees.