Quick charity verification for Lake Parsippany Property Owners (EIN: 221054157)
Verdict: Lake Parsippany Property Owners appears trustworthy
85/100Mission Score
$446KRevenue
$648KAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent 0% officer compensation reported across all filings, indicating efficient use of funds.
Healthy and growing asset base, reaching $724,902 in 2022, demonstrating financial stability.
Low liabilities relative to assets, with a strong asset-to-liability ratio (e.g., 15.5:1 in 2022).
Regular and timely IRS 990 filings, indicating good transparency and compliance.
Positive net income in recent years (e.g., $11,689 in 2022), contributing to asset growth.
Spending Breakdown
How Lake Parsippany Property Owners 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 Parsippany Property Owners
Is Lake Parsippany Property Owners a legitimate charity?
Based on AI analysis of IRS 990 filings, Lake Parsippany Property Owners (EIN: 221054157) appears trustworthy. Mission Score: 85/100. 0 red flags identified, 5 strengths noted.
Is Lake Parsippany Property Owners a good charity to donate to?
Lake Parsippany Property Owners has a Mission Score of 85/100. Revenue: $446K. Assets: $648K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Lake Parsippany Property Owners?
The Employer Identification Number (EIN) for Lake Parsippany Property Owners is 221054157. 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 Parsippany Property Owners spend its money?
Lake Parsippany Property Owners allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Lake Parsippany Property Owners's tax-exempt status?
You can verify Lake Parsippany Property Owners's tax-exempt status using EIN 221054157 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 Parsippany Property Owners demonstrates a generally stable financial position with consistent revenue streams, though there have been fluctuations. In 2022, the organization reported revenues of $469,703 against expenses of $458,014, indicating a slight surplus. The organization's assets have shown growth over the past few years, reaching $724,902 in 2022, which is a positive indicator of financial health and capacity. Liabilities remain relatively low, at $46,823 in 2022, suggesting good financial management and limited debt burden.
The organization's spending efficiency appears reasonable, with expenses closely tracking revenue in recent years. A key aspect of their financial transparency is the consistent reporting of 0% officer compensation across all available filings, which suggests that leadership is either volunteer-based or compensated through other means not categorized as officer compensation, enhancing trust. This practice, combined with regular IRS 990 filings, indicates a commitment to public accountability.
Overall, Lake Parsippany Property Owners appears to be a financially sound organization with a clear operational focus, as evidenced by its consistent financial reporting and asset growth. The absence of officer compensation is a notable strength in terms of resource allocation and transparency.