Quick charity verification for Lake City Healthcare Foundation (EIN: 202902140)
Verdict: Lake City Healthcare Foundation appears trustworthy
75/100Mission Score
$91KRevenue
$308KAssets
3Red Flags
3Strengths
Red Flags
Consistent operating deficits from 2017-2022 where expenses significantly exceeded revenue.
High liabilities relative to assets in prior years (e.g., $899,783 liabilities vs. $751,494 assets in 202206).
Dramatic, unexplained financial shifts between 2022 and 2023 filings, warranting further scrutiny.
Strengths
Zero officer compensation reported across all filings, indicating efficient use of funds for leadership.
Significant improvement in financial health in the latest 202306 filing with high revenue and low expenses.
Elimination of substantial liabilities in the most recent reporting period.
Spending Breakdown
How Lake City Healthcare Foundation allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Lake City Healthcare Foundation
Is Lake City Healthcare Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Lake City Healthcare Foundation (EIN: 202902140) appears trustworthy. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
Is Lake City Healthcare Foundation a good charity to donate to?
Lake City Healthcare Foundation has a Mission Score of 75/100. Revenue: $91K. Assets: $308K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Lake City Healthcare Foundation?
The Employer Identification Number (EIN) for Lake City Healthcare Foundation is 202902140. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Lake City Healthcare Foundation spend its money?
Lake City Healthcare Foundation allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Lake City Healthcare Foundation's tax-exempt status?
You can verify Lake City Healthcare Foundation's tax-exempt status using EIN 202902140 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Lake City Healthcare Foundation exhibits fluctuating financial health. While the latest filing (202306) shows a significant revenue increase to $315,967 and low expenses of $38,532, previous years (2017-2022) consistently reported expenses exceeding revenue, leading to a decline in assets from $1,129,372 in 2017 to $751,494 in 2022. The organization's liabilities have also been substantial, peaking at $1,026,864 in 2017 and remaining high until the 202306 period where they are reported as $0, which is a positive development. The consistent reporting of 0% officer compensation across all filings indicates good transparency regarding executive pay and a focus on minimizing administrative overhead in this area. However, the dramatic shift in financial figures between 2022 and 2023 warrants further investigation to understand the underlying causes and sustainability of the recent improvements.