Lake Sumter State College Foundation Inc

Analysis

Lake Sumter State College Foundation Inc is a registered charity in United States, based in Leesburg, FL. It received its IRS tax-exemption ruling in March 1981, 45 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lake Sumter State College Foundation Inc reported income of $4.1m and spending of $2.4m, leaving 41% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $4.1m (+88%), an average of +17% a year. The sharpest change came in the year to December 2021, when income rose by 33%. Over the whole period it spent 52% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lake Sumter State College Foundation Inc sits at the 88th percentile: it is larger than about 88% 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 Bet Yaakov of the Jersey Shore Inc ($4.1m), University Health Care Foundation Inc ($4.1m) and Indianola Educational Foundation Inc ($4.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% of the total. At year end it held assets of $30.9m against liabilities of $2.6m, net assets of $28.3m.