Lake State Alpine Racing

Analysis

Lake State Alpine Racing is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in May 2021, 5 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lake State Alpine Racing reported income of $97k and spending of $89k, spending 91% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $86k to $97k (+14%), an average of +4.3% a year. The sharpest change came in the year to June 2022, when income rose by 39%. Over the whole period it spent 86% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Lake State Alpine Racing sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 34th percentile within MN. Charities of a similar size with the same main cause include Gulf Boxing Association ($97k), Spokane BMX ($97k) and Timberwolves Baseball Booster Inc ($97k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $3,500 (3.9% of expenses). At year end it held assets of $47k against liabilities of $0, net assets of $47k.