Clear Lake Area Development Corporation

Analysis

Clear Lake Area Development Corporation is a registered charity in United States, based in Clear Lake, SD. It received its IRS tax-exemption ruling in July 2022, 4 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, Clear Lake Area Development Corporation reported income of $92k and spending of $58k, leaving 37% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $53k to $92k (+74%), an average of +74% a year. The sharpest change came in the year to December 2023, when income rose by 74%. Over the whole period it spent 62% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Clear Lake Area Development Corporation sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 30th percentile within SD. Charities of a similar size with the same main cause include Waterbury Opportunities Industrialization Inc ($92k), Call a Ride of Greenwich ($92k) and Pasadena-Altadena Ivy Foundation ($92k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 95% of the total. At year end it held assets of $55k against liabilities of $0, net assets of $55k.