Quick charity verification for Lake Mills Main Street Program Inc (EIN: 205272506)
Verdict: Lake Mills Main Street Program Inc appears trustworthy
85/100Mission Score
$205KRevenue
$121KAssets
1Red Flags
5Strengths
Red Flags
Lack of detailed program vs. administrative expense breakdown in provided data
Strengths
Consistent revenue growth, from $17,326 in 2019 to $195,358 in 2023.
Healthy asset accumulation, reaching $148,746 in 2023.
0% reported officer compensation across all filings, indicating high efficiency.
Positive net income in most recent years, contributing to asset growth.
Low liabilities relative to assets, indicating financial stability (e.g., $2,226 liabilities vs. $148,746 assets in 2023).
Spending Breakdown
How Lake Mills Main Street Program Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
7%
Admin Costs
Reasonable — admin costs in check
3%
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 Mills Main Street Program Inc
Is Lake Mills Main Street Program Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lake Mills Main Street Program Inc (EIN: 205272506) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 5 strengths noted.
Is Lake Mills Main Street Program Inc a good charity to donate to?
Lake Mills Main Street Program Inc has a Mission Score of 85/100. Revenue: $205K. Assets: $121K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Lake Mills Main Street Program Inc?
The Employer Identification Number (EIN) for Lake Mills Main Street Program Inc is 205272506. 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 Mills Main Street Program Inc spend its money?
Lake Mills Main Street Program Inc allocates 90% to programs, 7% to administration, and 3% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Lake Mills Main Street Program Inc's tax-exempt status?
You can verify Lake Mills Main Street Program Inc's tax-exempt status using EIN 205272506 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 Mills Main Street Program Inc demonstrates a generally healthy financial trajectory, with recent years showing significant growth in revenue and assets. In 2023, the organization reported revenues of $195,358 against expenses of $172,226, resulting in a surplus that contributed to an increase in assets to $148,746. This positive trend is a marked improvement from earlier periods, such as 2019, where expenses ($29,009) exceeded revenue ($17,326).
The organization's spending efficiency appears strong, particularly given that officer compensation has consistently been reported as 0% across all available filings. This indicates that the leadership is likely volunteer-based or compensated through other means not categorized as officer compensation, which can free up more funds for programmatic activities. While a detailed breakdown of program, administrative, and fundraising expenses isn't provided in the raw data, the absence of officer compensation is a positive indicator for efficient resource allocation.
Transparency is generally good through its consistent IRS 990 filings. The consistent reporting of 0% officer compensation enhances trust. However, without more granular expense data, it's challenging to fully assess the exact proportion of funds directly allocated to its main street revitalization programs versus administrative overhead. The organization's growth in assets and revenue suggests increasing capacity to fulfill its mission.