Lakeplace Foundation

Analysis

Lakeplace Foundation is a registered charity in United States, based in Bovey, MN. It received its IRS tax-exemption ruling in July 2023, 3 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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 December 2023, Lakeplace Foundation reported income of $55k and spending of $47k, spending 87% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $3.0m to $55k (-98%), an average of -98% a year. The sharpest change came in the year to December 2023, when income dropped by 98%. Over the whole period it spent 1.5% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lakeplace Foundation sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 17th percentile within MN. Charities of a similar size with the same main cause include Homecare & Hospice Foundation Inc ($55k), Moments Hospice Foundation ($55k) and Desi Strong Foundation ($55k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.3% of the total. At year end it held assets of $2.9m against liabilities of $0, net assets of $2.9m.