Lake City Creative Alliance

Analysis

Lake City Creative Alliance is a registered charity in United States, based in Lake City, SC. It received its IRS tax-exemption ruling in August 2016, 10 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Lake City Creative Alliance reported income of $4.0m and spending of $2.8m, leaving 29% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.4m to $4.0m (-38%), an average of -11% a year. The sharpest change came in the year to December 2021, when income rose by 399%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lake City Creative Alliance sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within SC. Charities of a similar size with the same main cause include Michiana Public Broadcasting Corporation ($4.0m), Maryland Hall for the Creative Arts Inc ($4.0m) and Ica LA ($4.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $100k (3.6% of expenses). Other salaries and wages came to $642k. At year end it held assets of $2.0m against liabilities of $0, net assets of $2.0m. It reported 35 employees.