Quick charity verification for Lake George Association Inc (EIN: 146000565)
Verdict: Lake George Association Inc appears trustworthy
85/100Mission Score
$5.2MRevenue
$22.4MAssets
1Red Flags
4Strengths
Red Flags
Unusually low or 0% reported officer compensation across all filings, which may obscure actual executive remuneration if it's categorized elsewhere.
Strengths
Significant asset growth from $4.5M in 2014 to over $20M in 2023, indicating strong financial management and fundraising.
Consistent operational surpluses, with expenses generally lower than revenue (e.g., $3,648,389 expenses vs. $3,779,824 revenue in 2023).
Low liabilities relative to assets, demonstrating a strong balance sheet and financial health.
Strong program focus implied by the NTEE code A82Z (Water Quality, General) and the nature of the organization.
Spending Breakdown
How Lake George Association Inc 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 George Association Inc
Is Lake George Association Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lake George Association Inc (EIN: 146000565) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
Is Lake George Association Inc a good charity to donate to?
Lake George Association Inc has a Mission Score of 85/100. Revenue: $5.2M. Assets: $22.4M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Lake George Association Inc?
The Employer Identification Number (EIN) for Lake George Association Inc is 146000565. 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 George Association Inc spend its money?
Lake George Association Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Lake George Association Inc's tax-exempt status?
You can verify Lake George Association Inc's tax-exempt status using EIN 146000565 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
The Lake George Association Inc. demonstrates a generally healthy financial position with significant asset growth over the past few years. Revenue has shown considerable fluctuation, peaking at $6,877,319 in 2021 before settling to $3,779,824 in 2023. Despite these fluctuations, the organization consistently operates with a surplus, as evidenced by expenses being lower than revenue in most reported periods, such as $3,648,389 in expenses against $3,779,824 in revenue in 2023. This indicates sound financial management and an ability to build reserves.
The organization's asset base has expanded dramatically, from $4,542,441 in 2014 to $20,331,008 in 2023, suggesting successful fundraising and investment strategies. Liabilities remain relatively low compared to assets, with $550,263 in liabilities against over $20 million in assets in 2023, indicating a strong balance sheet and low financial risk. The consistent reporting of 0% officer compensation across all available filings is a notable aspect of their transparency and could suggest a volunteer-led executive structure or that compensation is reported differently, warranting further investigation into their full 990 forms for detailed compensation breakdowns.