Banner Lake Club Inc

Analysis

Banner Lake Club Inc is a registered charity in United States, based in Hobe Sound, FL. It received its IRS tax-exemption ruling in August 2011, 15 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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, Banner Lake Club Inc reported income of $4.1m and spending of $3.7m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.2m to $4.1m (+239%), an average of +36% a year. The sharpest change came in the year to June 2020, when income rose by 190%. Over the whole period it spent 53% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Banner Lake Club Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within FL. Charities of a similar size with the same main cause include Mt Ashland Association ($4.1m), Boys and Girls Club of New Rochelle Inc ($4.1m) and Boys and Girls Club of Transylvania County Inc ($4.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $194k (5.2% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $11.2m against liabilities of $183k, net assets of $11.0m. It reported 42 employees.