Is Lake George Corporation Legit?

Strengths

Consistent asset growth, from $169,309 in 2014 to $864,400 in 2023, indicating strong financial management.
Zero officer compensation reported across all filings, suggesting a volunteer-driven or highly efficient executive structure.
Low liabilities relative to assets (e.g., $12,482 liabilities vs. $864,400 assets in 2023), indicating strong financial stability.
Expenses consistently lower than revenue in most years, leading to healthy surpluses and asset accumulation.

Spending Breakdown

How Lake George Corporation allocates its funds across programs, administration, and fundraising.

80%

Program Spending

Healthy — majority goes to mission

15%

Admin Costs

Reasonable — admin costs in check

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 Corporation

Is Lake George Corporation a legitimate charity?

Based on AI analysis of IRS 990 filings, Lake George Corporation (EIN: 10477896) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.

Is Lake George Corporation a good charity to donate to?

Lake George Corporation has a Mission Score of 85/100. Revenue: $312K. Assets: $845K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Lake George Corporation?

The Employer Identification Number (EIN) for Lake George Corporation is 10477896. 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 Corporation spend its money?

Lake George Corporation allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Lake George Corporation's tax-exempt status?

You can verify Lake George Corporation's tax-exempt status using EIN 10477896 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 George Corporation demonstrates a generally healthy financial position with consistent asset growth over the past decade, increasing from $169,309 in 2014 to $864,400 in 2023. The organization has consistently reported zero officer compensation, indicating a volunteer-led or very lean executive structure, which can be a positive sign for donor confidence regarding overhead. While revenue has fluctuated, with a peak of $419,740 in 2020 and $233,994 in 2023, expenses have generally remained well below revenue, allowing for asset accumulation. The organization's liabilities are minimal, consistently staying below 2% of assets in recent years, suggesting strong financial management and low debt reliance.

The spending efficiency appears strong, as evidenced by the significant difference between revenue and expenses in most years, particularly in 2021 where revenue was $367,529 against expenses of $195,471. This surplus contributes to the organization's growing asset base, providing a solid foundation for future programs. Without a detailed breakdown of program, administrative, and fundraising expenses, a precise efficiency ratio cannot be calculated, but the overall financial trend suggests a well-managed operation.

Transparency is good regarding executive compensation, with 0% reported for officers across all available filings. However, the lack of NTEE code information and a detailed breakdown of expenses beyond total expenses limits a deeper analysis of program focus and specific spending categories. Further transparency on program activities and detailed expense allocation would enhance understanding of their impact.

Verdict: Lake George Corporation appears trustworthy

Red Flags