Lake Wales Care Center Inc

Analysis

Lake Wales Care Center Inc is a registered charity in United States, based in Lake Wales, FL. It received its IRS tax-exemption ruling in January 1981, 45 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 2022, Lake Wales Care Center Inc reported income of $3.0m and spending of $3.1m, spending 103% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $2.3m to $3.0m (+32%), an average of +9.7% a year. The sharpest change came in the year to December 2020, when income rose by 71%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake Wales Care Center 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 89th percentile, and in the 90th percentile within FL. Charities of a similar size with the same main cause include Boy Scouts of America ($3.0m), Rennie Center for Education Research & Policy Inc ($3.0m) and Boy Scouts of America ($3.0m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 59% and program service revenue 4.2% of the total. Other salaries and wages came to $1.3m. At year end it held assets of $10.9m against liabilities of $1.2m, net assets of $9.8m. It reported 128 employees.