Likely strong program focus given its NTEE code as a Vocational Technical School.
Spending Breakdown
How Lake Technical College Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
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 Technical College Inc
Is Lake Technical College Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lake Technical College Inc (EIN: 200940772) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
Is Lake Technical College Inc a good charity to donate to?
Lake Technical College Inc has a Mission Score of 85/100. Revenue: $21.8M. Assets: $25.3M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Lake Technical College Inc?
The Employer Identification Number (EIN) for Lake Technical College Inc is 200940772. 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 Technical College Inc spend its money?
Lake Technical College Inc allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Lake Technical College Inc's tax-exempt status?
You can verify Lake Technical College Inc's tax-exempt status using EIN 200940772 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 Technical College Inc. demonstrates consistent financial activity, with revenues generally exceeding expenses over the past decade, contributing to a steady growth in assets from $7.8 million in 2014 to $23.3 million in 2023. The organization's financial health appears stable, with a healthy asset base relative to its liabilities. A notable aspect is the reported 0% officer compensation across all available filings, which suggests that executive leadership may be compensated through other means not captured in this specific line item, or that the organization operates with a volunteer or externally funded leadership structure. This lack of reported officer compensation, while potentially positive for direct program spending, warrants further investigation for complete transparency regarding leadership remuneration.
The spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses from the provided data. However, the consistent surplus of revenue over expenses, particularly in recent years (e.g., $14.79M revenue vs. $14.66M expenses in 2023, and $19.77M revenue vs. $13.63M expenses in 2022), indicates effective financial management and an ability to build reserves. The organization's NTEE code B29 (Vocational Technical Schools) suggests a strong program focus on education and workforce development. The absence of reported fundraising expenses could imply that funding primarily comes from government grants, tuition, or other non-fundraising sources, which can be a sign of efficiency if these revenue streams are stable.
Transparency regarding executive compensation is a potential area for improvement, as the 0% reported officer compensation across all filings is unusual for an organization of this size and revenue. While it could indicate a highly efficient model, it also raises questions about how leadership is compensated or if these roles are entirely voluntary. Further details on the allocation of expenses into program, administrative, and fundraising categories would enhance the assessment of spending efficiency and overall transparency.