Lake of the Woods Veterans Memorial Foundation

Analysis

Lake of the Woods Veterans Memorial Foundation is a registered charity in United States, based in Baudette, MN. It received its IRS tax-exemption ruling in July 2019, 7 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable 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 2020, Lake of the Woods Veterans Memorial Foundation reported income of $56k and spending of $178, leaving 100% of income unspent that year. Across the 2 years on record, from December 2019 to December 2020, income fell from $108k to $56k (-48%), an average of -48% a year. The sharpest change came in the year to December 2020, when income dropped by 48%. Over the whole period it spent 0.2% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake of the Woods Veterans Memorial 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 22nd percentile, and in the 18th percentile within MN. Charities of a similar size with the same main cause include Swannanoa Valley Art League ($56k), Senior Opportunity Association Inc ($56k) and Freedom Club Inc ($56k).

On its Form 990 for the period ending December 2020, revenue came from contributions and grants 100% of the total. At year end it held assets of $244k against liabilities of $0, net assets of $244k.