Educational Facilities Corporationfor Lexington School District No 2
Educational Facilities Corporation for Lexington School District No 2 maintains a stable financial structure with assets largely offset by liabilities, consistently reporting no officer compensation.
EIN: 205119042 · West Columbia, SC · NTEE: T990 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.1M |
| Total Expenses | $525K |
| Program Spending | 95% |
| Net Assets | $0 |
| Transparency Score | 85/100 |
Is Educational Facilities Corporationfor Lexington School District No 2 Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Educational Facilities Corporationfor Lexington School District No 2 directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Educational Facilities Corporationfor Lexington School District No 2
Educational Facilities Corporationfor Lexington School District No 2 (EIN: 205119042) is a nonprofit organization based in West Columbia, SC, classified under NTEE code T990. The organization reported total revenue of $2.1M and total assets of $13.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Educational Facilities Corporationfor Lexington School District No 2's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Educational Facilities Corporationfor Lexington School District No 2 is a mid-size nonprofit that has been operating for 19 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -0.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.1M |
| Total Expenses | $525K |
| Surplus / Deficit | +$1.6M |
| Total Assets | $15.6M |
| Total Liabilities | $15.6M |
| Net Assets | $0 |
| Operating Margin | 75.5% |
| Debt-to-Asset Ratio | 100.0% |
| Months of Reserves | 355.8 months |
Financial Health Grade: A
In 2023, Educational Facilities Corporationfor Lexington School District No 2 reported a surplus of $1.6M with revenue exceeding expenses, holds 355.8 months of operating reserves (strong position), has a debt-to-asset ratio of 100.0% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), Educational Facilities Corporationfor Lexington School District No 2's revenue has declined at a compound annual growth rate (CAGR) of -0.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -0.8% | -16.3% | -9.4% |
| 2022 | +0.0% | -71.0% | -3.1% |
| 2021 | -1.3% | -1.9% | -7.3% |
| 2020 | -0.8% | +0.1% | -6.6% |
| 2019 | +0.9% | +0.9% | -6.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Educational Facilities Corporationfor Lexington School District No 2 with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Educational Facilities Corporationfor Lexington School District No 2 allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.6M, with revenue exceeding expenses.
- Debt-to-asset ratio: 100.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating either that no officers receive compensation from this entity or that executive functions are absorbed by the school district, demonstrating high efficiency in this area relative to the organization's size and financial activity.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Educational Facilities Corporationfor Lexington School District No 2's IRS 990 filings:
- Lack of detailed program service expense breakdown in available data, making traditional 'charitable impact' assessment difficult.
Strengths
The following positive indicators were identified for Educational Facilities Corporationfor Lexington School District No 2:
- Consistent 0% officer compensation, indicating efficient executive overhead.
- Stable financial operations with revenues generally covering expenses.
- Consistent IRS 990 filing history, demonstrating transparency and compliance.
- Clear support role for public education facilities.
Frequently Asked Questions about Educational Facilities Corporationfor Lexington School District No 2
Is Educational Facilities Corporationfor Lexington School District No 2 a legitimate charity?
Based on AI analysis of IRS 990 filings, Educational Facilities Corporationfor Lexington School District No 2 (EIN: 205119042) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Educational Facilities Corporationfor Lexington School District No 2 spend its money?
Educational Facilities Corporationfor Lexington School District No 2 directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Educational Facilities Corporationfor Lexington School District No 2 tax-deductible?
Educational Facilities Corporationfor Lexington School District No 2 is registered as a tax-exempt nonprofit (EIN: 205119042). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Educational Facilities Corporationfor Lexington School District No 2 compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Educational Facilities Corporationfor Lexington School District No 2 is above average for NTEE category T990 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Educational Facilities Corporationfor Lexington School District No 2 located?
Educational Facilities Corporationfor Lexington School District No 2 is headquartered in West Columbia, South Carolina and files with the IRS under EIN 205119042. It is classified under NTEE code T990.
How many years of IRS 990 filings does Educational Facilities Corporationfor Lexington School District No 2 have?
Educational Facilities Corporationfor Lexington School District No 2 has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.1M in total revenue.
What is the primary purpose of Educational Facilities Corporation for Lexington School District No 2?
Based on its NTEE code (T990 - Support for Public Education) and financial structure, its primary purpose appears to be providing financial support, likely through bond issuance or similar mechanisms, for educational facilities within Lexington School District No 2.
Why are assets and liabilities almost identical in recent years?
The near-identical assets and liabilities (e.g., $15,556,538 for both in 202306) suggest the organization operates as a conduit or special purpose entity, holding assets primarily as collateral or in trust for specific debt obligations, common in public finance for school districts.
Does this organization engage in traditional fundraising?
Given the consistent revenue streams closely matching expenses and the nature of its operations as a support organization for a school district, it is unlikely to engage in traditional public fundraising. Its revenue likely comes from bond proceeds, interest, or direct payments from the school district.
How does the organization's financial health impact the school district?
As a financing entity, its financial stability directly supports the school district's ability to fund and maintain educational facilities. Its consistent revenue and expense patterns indicate a reliable financial mechanism for the district.
Filing History
IRS 990 filing history for Educational Facilities Corporationfor Lexington School District No 2 showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Educational Facilities Corporationfor Lexington School District No 2's revenue has declined by 1.4%, moving from $2.2M to $2.1M. Total assets increased by 325% over the same period, from $3.7M to $15.6M. Total functional expenses fell by 76%, from $2.2M to $525K. In its most recent filing year (2023), Educational Facilities Corporationfor Lexington School District No 2 reported a surplus of $1.6M, with revenue exceeding expenses. The organization holds $15.6M in liabilities against $15.6M in assets (debt-to-asset ratio: 100.0%), resulting in net assets of $0.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.1M | $525K | $15.6M | $15.6M | — | — |
| 2022 | $2.2M | $627K | $17.2M | $17.2M | — | View 990 |
| 2021 | $2.2M | $2.2M | $17.7M | $17.7M | — | View 990 |
| 2020 | $2.2M | $2.2M | $19.1M | $19.1M | — | View 990 |
| 2019 | $2.2M | $2.2M | $20.5M | $20.4M | — | View 990 |
| 2018 | $2.2M | $2.2M | $21.8M | $21.8M | — | View 990 |
| 2017 | $2.2M | $2.2M | $23.1M | $23.1M | — | View 990 |
| 2016 | $2.6M | $2.6M | $24.4M | $24.4M | — | View 990 |
| 2015 | $31.3M | $33.6M | $26.0M | $26.0M | — | View 990 |
| 2014 | $2.1M | $2.2M | $33.5M | $31.2M | — | View 990 |
| 2013 | $2.1M | $2.1M | $34.2M | $31.9M | — | View 990 |
| 2012 | $2.2M | $2.2M | $3.7M | $1.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.1M, expenses of $525K, and assets of $15.6M (revenue -0.8% year-over-year).
- 2022: Revenue of $2.2M, expenses of $627K, and assets of $17.2M (revenue +0.0% year-over-year).
- 2021: Revenue of $2.2M, expenses of $2.2M, and assets of $17.7M (revenue -1.3% year-over-year).
- 2020: Revenue of $2.2M, expenses of $2.2M, and assets of $19.1M (revenue -0.8% year-over-year).
- 2019: Revenue of $2.2M, expenses of $2.2M, and assets of $20.5M (revenue +0.9% year-over-year).
- 2018: Revenue of $2.2M, expenses of $2.2M, and assets of $21.8M (revenue +-0.0% year-over-year).
- 2017: Revenue of $2.2M, expenses of $2.2M, and assets of $23.1M (revenue -16.7% year-over-year).
- 2016: Revenue of $2.6M, expenses of $2.6M, and assets of $24.4M (revenue -91.6% year-over-year).
- 2015: Revenue of $31.3M, expenses of $33.6M, and assets of $26.0M (revenue +1366.0% year-over-year).
- 2014: Revenue of $2.1M, expenses of $2.2M, and assets of $33.5M (revenue +-0.0% year-over-year).
- 2013: Revenue of $2.1M, expenses of $2.1M, and assets of $34.2M (revenue -1.6% year-over-year).
- 2012: Revenue of $2.2M, expenses of $2.2M, and assets of $3.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Educational Facilities Corporationfor Lexington School District No 2:
Data Sources and Methodology
This transparency report for Educational Facilities Corporationfor Lexington School District No 2 is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.