Forest Lakes Water Co
Forest Lakes Water Co: Stable Revenue, High Administrative Costs
EIN: 222065366 · Andover, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $196K |
| Total Expenses | $183K |
| CEO/Top Officer Pay | $0 |
| Net Assets | $169K |
| Transparency Score | 60/100 |
Is Forest Lakes Water Co Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Forest Lakes Water Co
Forest Lakes Water Co (EIN: 222065366) is a nonprofit organization based in Andover, NJ. The organization reported total revenue of $196K and total assets of $180K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Forest Lakes Water Co's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Forest Lakes Water Co is a small nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $165K |
| Total Expenses | $183K |
| Surplus / Deficit | $-17,227 |
| Total Assets | $192K |
| Total Liabilities | $23K |
| Net Assets | $169K |
| Operating Margin | -10.4% |
| Debt-to-Asset Ratio | 12.0% |
| Months of Reserves | 12.6 months |
Financial Health Grade: B
In 2023, Forest Lakes Water Co reported a deficit of $17K with expenses exceeding revenue, holds 12.6 months of operating reserves (strong position), has a debt-to-asset ratio of 12.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Forest Lakes Water Co's revenue has grown at a compound annual growth rate (CAGR) of 2.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.7% | +8.1% | -8.5% |
| 2022 | -0.3% | -11.8% | -0.6% |
| 2021 | +0.1% | +13.2% | -10.1% |
| 2020 | -0.6% | -7.9% | -2.5% |
| 2019 | +0.8% | +24.1% | -7.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
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 Forest Lakes Water Co with a Mission Score of 60 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Forest Lakes Water Co allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $17K, with expenses exceeding revenue.
- Debt-to-asset ratio: 12.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as $0 across all available filings, which is unusual for an organization with reported expenses.
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 Forest Lakes Water Co's IRS 990 filings:
- No program service expenses reported, indicating it may not be a traditional nonprofit delivering services.
- 100% of reported expenses are administrative, raising questions about its operational model.
- Consistent reporting of $0 for executive compensation despite significant total expenses (e.g., $182,633 in 2023) is a red flag for transparency.
- The organization's purpose as a 'water company' suggests a utility, not a typical charitable nonprofit, which impacts how its financials should be interpreted.
Strengths
The following positive indicators were identified for Forest Lakes Water Co:
- Consistent revenue generation over several years (e.g., $165,406 in 2023).
- Stable asset base, with total assets at $191,827 in 2023.
- Consistent filing of financial documents, indicating compliance with reporting requirements.
Frequently Asked Questions about Forest Lakes Water Co
Is Forest Lakes Water Co a legitimate charity?
Forest Lakes Water Co (EIN: 222065366) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 60/100. It has 13 years of IRS 990 filings on record. Total revenue: $196K. 4 red flags identified. 3 strengths noted. Financial health grade: B.
How does Forest Lakes Water Co spend its money?
Forest Lakes Water Co reported $196K in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Forest Lakes Water Co tax-deductible?
Forest Lakes Water Co is registered as a tax-exempt nonprofit (EIN: 222065366). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Forest Lakes Water Co CEO make?
Forest Lakes Water Co's highest-compensated officer earns $0 annually. The organization reported $196K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is Forest Lakes Water Co located?
Forest Lakes Water Co is headquartered in Andover, New Jersey and files with the IRS under EIN 222065366.
How many years of IRS 990 filings does Forest Lakes Water Co have?
Forest Lakes Water Co has 13 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 $196K in total revenue.
What does Forest Lakes Water Co do?
Forest Lakes Water Co is a nonprofit organization in the Unknown sector, located in Andover, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Forest Lakes Water Co have?
Forest Lakes Water Co reported total revenue of $196,036. Based on 13 IRS 990 filings on record.
What are Forest Lakes Water Co's total assets?
Forest Lakes Water Co holds total assets of $179,575 as reported in IRS 990 filings.
Where is Forest Lakes Water Co located?
Forest Lakes Water Co is based in Andover, New Jersey.
What is Forest Lakes Water Co's EIN?
Forest Lakes Water Co's Employer Identification Number (EIN) is 222065366. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Forest Lakes Water Co?
Forest Lakes Water Co is classified under NTEE code Unknown (Unknown).
Is Forest Lakes Water Co a registered 501(c)(3)?
Forest Lakes Water Co appears in IRS records (EIN: 222065366). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Forest Lakes Water Co file IRS Form 990?
Yes, Forest Lakes Water Co has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Forest Lakes Water Co's revenue in 2023?
In the 202312 filing period, Forest Lakes Water Co reported total revenue of $165,406, total expenses of $182,633, and net assets of $191,827.
Is Forest Lakes Water Co's revenue growing or declining?
Forest Lakes Water Co's revenue is relatively stable. Revenue went from $164,218 (202212) to $165,406 (202312), a +0.7% change. Based on 13 filings on record.
What is Forest Lakes Water Co's most recent 990 filing?
The most recent IRS Form 990 filing for Forest Lakes Water Co covers tax period 202312. It shows revenue of $165,406, expenses of $182,633, total assets of $191,827, and liabilities of $22,981.
Is Forest Lakes Water Co a trustworthy charity?
Based on AI analysis of IRS 990 data, Forest Lakes Water Co shows mixed signals. Mission Score: 60/100 (Good). 4 red flags identified. 3 strengths noted.
What are the red flags for Forest Lakes Water Co?
The following concerns were identified: No program service expenses reported, indicating it may not be a traditional nonprofit delivering services.. 100% of reported expenses are administrative, raising questions about its operational model.. Consistent reporting of $0 for executive compensation despite significant total expenses (e.g., $182,633 in 2023) is a red flag for transparency.. The organization's purpose as a 'water company' suggests a utility, not a typical charitable nonprofit, which impacts how its financials should be interpreted.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Forest Lakes Water Co's strengths?
Positive indicators for Forest Lakes Water Co include: Consistent revenue generation over several years (e.g., $165,406 in 2023).. Stable asset base, with total assets at $191,827 in 2023.. Consistent filing of financial documents, indicating compliance with reporting requirements.. These findings are derived from AI analysis of the organization's financial filings.
How does Forest Lakes Water Co compensate executives?
Executive compensation is consistently reported as $0 across all available filings, which is unusual for an organization with reported expenses. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Forest Lakes Water Co?
- No program service expenses reported in recent filings. - Compensation for officers, directors, trustees, and key employees is consistently reported as $0. - Financial statements are consistently available, but lack detailed breakdowns of operational expenses. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the consistent reporting of $0 for program service expenses and executive compensation, what is the primary function or mission of Forest Lakes Water Co, and how does it align with its nonprofit status?
The data suggests Forest Lakes Water Co operates more like a utility or a homeowners' association managing a water system, rather than a traditional charitable nonprofit. Its expenses are entirely administrative, likely covering operational costs for water delivery and infrastructure maintenance, rather than direct charitable programs or services.
How does Forest Lakes Water Co manage its operational costs, given that all reported expenses are administrative and executive compensation is $0?
The administrative expenses (e.g., $182,633 in 2023) likely cover all operational costs, including salaries for non-executive staff, utilities, maintenance, and other overheads associated with running a water company. The $0 executive compensation might indicate that leadership roles are unpaid or compensated through other means not reported in this section, or that the organization is managed by volunteers.
Filing History
IRS 990 filing history for Forest Lakes Water Co showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Forest Lakes Water Co's revenue has grown by 35.4%, moving from $122K to $165K. Total assets increased by 16.4% over the same period, from $165K to $192K. Total functional expenses rose by 22.8%, from $149K to $183K. In its most recent filing year (2023), Forest Lakes Water Co reported a deficit of $17K, with expenses exceeding revenue. The organization holds $23K in liabilities against $192K in assets (debt-to-asset ratio: 12.0%), resulting in net assets of $169K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $165K | $183K | $192K | $23K | — | — |
| 2022 | $164K | $169K | $210K | $24K | — | View 990 |
| 2021 | $165K | $192K | $211K | $20K | — | View 990 |
| 2020 | $164K | $169K | $235K | $17K | — | — |
| 2019 | $166K | $184K | $241K | $18K | — | — |
| 2018 | $164K | $148K | $259K | $18K | — | View 990 |
| 2017 | $163K | $151K | $244K | $19K | — | View 990 |
| 2016 | $162K | $133K | $232K | $19K | — | View 990 |
| 2015 | $161K | $134K | $192K | $8K | — | View 990 |
| 2014 | $160K | $152K | $168K | $11K | — | View 990 |
| 2013 | $142K | $138K | $163K | $14K | — | View 990 |
| 2012 | $121K | $134K | $190K | $45K | — | View 990 |
| 2011 | $122K | $149K | $165K | $7K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $165K, expenses of $183K, and assets of $192K (revenue +0.7% year-over-year).
- 2022: Revenue of $164K, expenses of $169K, and assets of $210K (revenue -0.3% year-over-year).
- 2021: Revenue of $165K, expenses of $192K, and assets of $211K (revenue +0.1% year-over-year).
- 2020: Revenue of $164K, expenses of $169K, and assets of $235K (revenue -0.6% year-over-year).
- 2019: Revenue of $166K, expenses of $184K, and assets of $241K (revenue +0.8% year-over-year).
- 2018: Revenue of $164K, expenses of $148K, and assets of $259K (revenue +0.7% year-over-year).
- 2017: Revenue of $163K, expenses of $151K, and assets of $244K (revenue +0.9% year-over-year).
- 2016: Revenue of $162K, expenses of $133K, and assets of $232K (revenue +0.4% year-over-year).
- 2015: Revenue of $161K, expenses of $134K, and assets of $192K (revenue +0.5% year-over-year).
- 2014: Revenue of $160K, expenses of $152K, and assets of $168K (revenue +12.8% year-over-year).
- 2013: Revenue of $142K, expenses of $138K, and assets of $163K (revenue +16.9% year-over-year).
- 2012: Revenue of $121K, expenses of $134K, and assets of $190K (revenue -0.6% year-over-year).
- 2011: Revenue of $122K, expenses of $149K, and assets of $165K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Forest Lakes Water Co:
Data Sources and Methodology
This transparency report for Forest Lakes Water Co 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.