Head Of The Lakes United Way
EIN: 410857077 · Duluth, MN · NTEE: T70
| Metric | Value |
|---|---|
| Total Revenue | $1.7M |
| Total Expenses | $1.8M |
| Net Assets | $7.5M |
Is Head Of The Lakes United Way Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Head Of The Lakes United Way
Head Of The Lakes United Way (EIN: 410857077) is a nonprofit organization based in Duluth, MN, classified under NTEE code T70. The organization reported total revenue of $1.7M and total assets of $8.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Head Of The Lakes United Way's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Head Of The Lakes United Way is a mid-size nonprofit that has been operating for 64 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -4.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.6M |
| Total Expenses | $1.8M |
| Surplus / Deficit | $-249,195 |
| Total Assets | $8.2M |
| Total Liabilities | $718K |
| Net Assets | $7.5M |
| Operating Margin | -15.9% |
| Debt-to-Asset Ratio | 8.8% |
| Months of Reserves | 54.0 months |
Financial Health Grade: B
In 2023, Head Of The Lakes United Way reported a deficit of $249K with expenses exceeding revenue, holds 54.0 months of operating reserves (strong position), has a debt-to-asset ratio of 8.8% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Head Of The Lakes United Way's revenue has declined at a compound annual growth rate (CAGR) of -4.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -5.2% | -3.9% | +2.3% |
| 2022 | -9.9% | +3.3% | -11.6% |
| 2021 | -9.5% | -12.5% | +21.5% |
| 2020 | -7.3% | -10.7% | +3.3% |
| 2019 | -5.7% | -1.5% | +1.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1962 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Head Of The Lakes United Way has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Head Of The Lakes United Way with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $249K, with expenses exceeding revenue.
- Debt-to-asset ratio: 8.8%.
Frequently Asked Questions about Head Of The Lakes United Way
Is Head Of The Lakes United Way a legitimate charity?
Based on AI analysis of IRS 990 filings, Head Of The Lakes United Way (EIN: 410857077) insufficient data. 0 red flags identified, 0 strengths noted.
How does Head Of The Lakes United Way spend its money?
Detailed spending breakdown data is not yet available for Head Of The Lakes United Way. Check back for updated IRS 990 analysis.
Are donations to Head Of The Lakes United Way tax-deductible?
Head Of The Lakes United Way is registered as a tax-exempt nonprofit (EIN: 410857077). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Head Of The Lakes United Way located?
Head Of The Lakes United Way is headquartered in Duluth, Minnesota and files with the IRS under EIN 410857077. It is classified under NTEE code T70.
How many years of IRS 990 filings does Head Of The Lakes United Way have?
Head Of The Lakes United Way has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.7M in total revenue.
Filing History
IRS 990 filing history for Head Of The Lakes United Way showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Head Of The Lakes United Way's revenue has declined by 38.2%, moving from $2.5M to $1.6M. Total assets increased by 51.4% over the same period, from $5.4M to $8.2M. Total functional expenses fell by 29.1%, from $2.6M to $1.8M. In its most recent filing year (2023), Head Of The Lakes United Way reported a deficit of $249K, with expenses exceeding revenue. The organization holds $718K in liabilities against $8.2M in assets (debt-to-asset ratio: 8.8%), resulting in net assets of $7.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.6M | $1.8M | $8.2M | $718K | — | — |
| 2022 | $1.7M | $1.9M | $8.0M | $803K | — | View 990 |
| 2021 | $1.8M | $1.8M | $9.1M | $923K | — | — |
| 2020 | $2.0M | $2.1M | $7.5M | $1.1M | — | View 990 |
| 2019 | $2.2M | $2.3M | $7.2M | $1.0M | — | View 990 |
| 2018 | $2.3M | $2.4M | $7.1M | $1.0M | — | View 990 |
| 2017 | $2.5M | $2.4M | $6.8M | $1.0M | — | View 990 |
| 2016 | $2.8M | $2.4M | $6.2M | $1.0M | — | View 990 |
| 2015 | $2.2M | $2.2M | $5.9M | $986K | — | View 990 |
| 2014 | $2.4M | $2.4M | $6.1M | $1.1M | — | View 990 |
| 2013 | $2.4M | $2.5M | $5.6M | $1.2M | — | View 990 |
| 2012 | $2.5M | $2.6M | $5.4M | $1.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.6M, expenses of $1.8M, and assets of $8.2M (revenue -5.2% year-over-year).
- 2022: Revenue of $1.7M, expenses of $1.9M, and assets of $8.0M (revenue -9.9% year-over-year).
- 2021: Revenue of $1.8M, expenses of $1.8M, and assets of $9.1M (revenue -9.5% year-over-year).
- 2020: Revenue of $2.0M, expenses of $2.1M, and assets of $7.5M (revenue -7.3% year-over-year).
- 2019: Revenue of $2.2M, expenses of $2.3M, and assets of $7.2M (revenue -5.7% year-over-year).
- 2018: Revenue of $2.3M, expenses of $2.4M, and assets of $7.1M (revenue -8.8% year-over-year).
- 2017: Revenue of $2.5M, expenses of $2.4M, and assets of $6.8M (revenue -8.4% year-over-year).
- 2016: Revenue of $2.8M, expenses of $2.4M, and assets of $6.2M (revenue +29.1% year-over-year).
- 2015: Revenue of $2.2M, expenses of $2.2M, and assets of $5.9M (revenue -8.5% year-over-year).
- 2014: Revenue of $2.4M, expenses of $2.4M, and assets of $6.1M (revenue -0.8% year-over-year).
- 2013: Revenue of $2.4M, expenses of $2.5M, and assets of $5.6M (revenue -6.6% year-over-year).
- 2012: Revenue of $2.5M, expenses of $2.6M, and assets of $5.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Head Of The Lakes United Way:
Data Sources and Methodology
This transparency report for Head Of The Lakes United Way is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.