Glacial Lakes Multicultural Center Inc

Analysis

Glacial Lakes Multicultural Center Inc is a registered charity in United States, based in Watertown, SD. It received its IRS tax-exemption ruling in June 2019, 7 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Glacial Lakes Multicultural Center Inc reported income of $139k and spending of $164k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $86k to $139k (+62%), an average of +13% a year. The sharpest change came in the year to December 2023, when income rose by 141%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Glacial Lakes Multicultural Center Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 42nd percentile within SD. Charities of a similar size with the same main cause include Rotary Foundation of the Rotary Club of Monterey a Nonprofit Bene ($139k), Closer Walk Inc ($140k) and Harding Ford Vision Inc ($139k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $59k (36% of expenses). Other salaries and wages came to $49k. At year end it held assets of $6,587 against liabilities of $11k, net assets of -$4,805. It reported 3 employees.