LCG Icare Foundation

Analysis

LCG Icare Foundation is a registered charity in United States, based in Novi, MI. It received its IRS tax-exemption ruling in May 2017, 9 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, LCG Icare Foundation reported income of $750k and spending of $532k, leaving 29% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $431k to $750k (+74%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 43%. Over the whole period it spent 53% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, LCG Icare Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MI. Charities of a similar size with the same main cause include Chase Hawks Memorial Association Inc ($750k), Flammer Charitable TR Created Under Karl F Flammer Fam TR ($750k) and Eugene L Garcia Charitable Trust ($750k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 104% of the total. Compensation of current officers, directors and key employees was $84k (16% of expenses). Other salaries and wages came to $1,604. At year end it held assets of $2.0m against liabilities of $3,269, net assets of $2.0m. It reported 1 employees.