Friends Of The Lake Inc
Friends Of The Lake Inc shows consistent asset growth and no reported officer compensation.
EIN: 200317010 · Bridgewater, CT · NTEE: C32 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $98K |
| Total Expenses | $38K |
| Program Spending | 85% |
| Net Assets | $104K |
| Transparency Score | 90/100 |
Is Friends Of The Lake Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Friends Of The Lake Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Friends Of The Lake Inc
Friends Of The Lake Inc (EIN: 200317010) is a nonprofit organization based in Bridgewater, CT, classified under NTEE code C32. The organization reported total revenue of $98K and total assets of $118K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of The Lake Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of The Lake Inc is a micro nonprofit that has been operating for 22 years, with 2 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $42K |
| Total Expenses | $38K |
| Surplus / Deficit | +$4K |
| Total Assets | $106K |
| Total Liabilities | $2K |
| Net Assets | $104K |
| Operating Margin | 9.6% |
| Debt-to-Asset Ratio | 2.2% |
| Months of Reserves | 33.8 months |
Financial Health Grade: A
In 2023, Friends Of The Lake Inc reported a surplus of $4K with revenue exceeding expenses, holds 33.8 months of operating reserves (strong position), has a debt-to-asset ratio of 2.2% (very low leverage).
Financial Trends
Over 2 years of filings (2011–2023), Friends Of The Lake Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +58.3% | +24.2% | +131.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Friends Of The Lake Inc with a Mission Score of 90 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Friends Of The Lake Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $4K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.2%.
Executive Compensation Analysis
Friends Of The Lake Inc reports 0% officer compensation in all available filings, indicating that no funds are allocated to executive salaries, which is highly favorable for a nonprofit of its size.
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.
Strengths
The following positive indicators were identified for Friends Of The Lake Inc:
- Consistent asset growth from $45,817 in 2011 to $118,482 currently.
- No reported officer compensation (0%) across all filings, indicating high efficiency in directing funds to mission.
- Low liabilities ($2,302 in 2023) relative to assets, suggesting strong financial management.
- Positive revenue trend, with latest revenue at $98,170.
Frequently Asked Questions about Friends Of The Lake Inc
Is Friends Of The Lake Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Friends Of The Lake Inc (EIN: 200317010) appears legitimate. Mission Score: 90/100. 0 red flags identified, 4 strengths noted.
How does Friends Of The Lake Inc spend its money?
Friends Of The Lake Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Friends Of The Lake Inc tax-deductible?
Friends Of The Lake Inc is registered as a tax-exempt nonprofit (EIN: 200317010). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Friends Of The Lake Inc's spending goes to programs?
Friends Of The Lake Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Friends Of The Lake Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Friends Of The Lake Inc is above average for NTEE category C32 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Friends Of The Lake Inc located?
Friends Of The Lake Inc is headquartered in Bridgewater, Connecticut and files with the IRS under EIN 200317010. It is classified under NTEE code C32.
How many years of IRS 990 filings does Friends Of The Lake Inc have?
Friends Of The Lake Inc has 2 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $98K in total revenue.
Is Friends Of The Lake Inc a good charity?
Based on the available IRS 990 data, Friends Of The Lake Inc appears to be a good charity. It demonstrates financial growth, low liabilities, and a strong commitment to its mission by reporting 0% officer compensation.
How has Friends Of The Lake Inc's financial health changed over time?
Friends Of The Lake Inc has shown positive financial growth. Revenue increased from $26,270 in 2011 to $41,591 in 2023, and assets grew from $45,817 to $105,915 in the same period, indicating improved financial health.
Filing History
IRS 990 filing history for Friends Of The Lake Inc showing financial trends over 2 years of public records:
Over 2 years of IRS 990 filings (2011–2023), Friends Of The Lake Inc's revenue has grown by 58.3%, moving from $26K to $42K. Total assets increased by 131.2% over the same period, from $46K to $106K. Total functional expenses rose by 24.2%, from $30K to $38K. In its most recent filing year (2023), Friends Of The Lake Inc reported a surplus of $4K, with revenue exceeding expenses. The organization holds $2K in liabilities against $106K in assets (debt-to-asset ratio: 2.2%), resulting in net assets of $104K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $42K | $38K | $106K | $2K | — | — |
| 2011 | $26K | $30K | $46K | $0 | — | View 990 |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of The Lake Inc:
Data Sources and Methodology
This transparency report for Friends Of The Lake Inc 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.