Lakewood Heritage Foundation

Analysis

Lakewood Heritage Foundation is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in October 2017, 9 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 September 2023, Lakewood Heritage Foundation reported income of $52k and spending of $224k, spending 435% of what it took in. Across the 2 years on record, from September 2022 to September 2023, income fell from $429k to $52k (-88%), an average of -88% a year. The sharpest change came in the year to September 2023, when income dropped by 88%. Over the whole period it spent 47% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lakewood Heritage Foundation sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 16th percentile within MN. Charities of a similar size with the same main cause include Btvignite Inc ($52k), Community Equity Collaborative ($52k) and Bridge Center of Hampton Roads ($51k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $315k against liabilities of $0, net assets of $315k.