Glacial Lakes Area Development

Analysis

Glacial Lakes Area Development is a registered charity in United States, based in Britton, SD. It received its IRS tax-exemption ruling in December 2007, 19 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 December 2023, Glacial Lakes Area Development reported income of $116k and spending of $251k, spending 217% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $109k to $116k (+6.2%), an average of +1.5% a year. The sharpest change came in the year to December 2021, when income rose by 19%. Over the whole period it spent 104% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Glacial Lakes Area Development sits at the 39th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 36th percentile within SD. Charities of a similar size with the same main cause include Shelby County Associated Industries Inc ($116k), Unity in the Community ($116k) and Pearl with You Inc ($116k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $53k (21% of expenses). At year end it held assets of $1.2m against liabilities of $707k, net assets of $506k. It reported 1 employees.