Lakes Area Care Incorporated

Analysis

Lakes Area Care Incorporated is a registered charity in United States, based in Burnet, TX. It received its IRS tax-exemption ruling in April 1988, 38 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, Lakes Area Care Incorporated reported income of $128k and spending of $115k, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $183k to $128k (-30%), an average of -8.6% a year. The sharpest change came in the year to December 2022, when income rose by 37%. Over the whole period it spent 53% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lakes Area Care Incorporated sits at the 43rd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 47th percentile within TX. Charities of a similar size with the same main cause include Hardy Group Ministries ($128k), Historic Easton Inc ($128k) and Passport to Freedom ($128k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $36k (31% of expenses). At year end it held assets of $605k against liabilities of $1,281, net assets of $604k. It reported 1 employees.