Lake Race Corp

Analysis

Lake Race Corp is a registered charity in United States, based in Lake Ozark, MO. It received its IRS tax-exemption ruling in August 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, Lake Race Corp reported income of $198k and spending of $210k, spending 106% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $192k to $198k (+3.1%), an average of +3.1% a year. Over the whole period it spent 98% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Lake Race Corp sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 51st percentile within MO. Charities of a similar size with the same main cause include Halvorson Charities Fund ($198k), Community Foundation of Merced County ($198k) and Core Values Inc ($198k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 82% of the total. At year end it held assets of $1 against liabilities of $9,654, net assets of -$9,653.