Lake Avenue Foundation Inc

Analysis

Lake Avenue Foundation Inc is a registered charity in United States, based in Pasadena, CA. It received its IRS tax-exemption ruling in August 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 September 2023, Lake Avenue Foundation Inc reported income of $1.4m and spending of $1.7m, spending 121% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.1m to $1.4m (+31%), an average of +6.9% a year. The sharpest change came in the year to September 2021, when income rose by 54%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lake Avenue Foundation Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within CA. Charities of a similar size with the same main cause include South Brevard Sharing Center Inc ($1.4m), Oceanside Ivey Ranch Park Association ($1.4m) and Operation Hat Trick ($1.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 83% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $119k (7.2% of expenses). Other salaries and wages came to $847k. At year end it held assets of $749k against liabilities of $132k, net assets of $618k. It reported 25 employees.