Inter Lakes Scholarship Foundation
Inter Lakes Scholarship Foundation: Strong Program Spending, Limited Transparency
EIN: 222474302 · Meredith, NH · NTEE: T20 · Updated: 2026-04-04
About Inter Lakes Scholarship Foundation
Inter Lakes Scholarship Foundation (EIN: 222474302) is a nonprofit organization based in Meredith, NH, classified under NTEE code T20. The organization reported total revenue of $48K and total assets of $432K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Inter Lakes Scholarship Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Inter Lakes Scholarship Foundation 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: 29%
- programs: 71%
- fundraising: 0%
According to IRS 990 filings, Inter Lakes Scholarship Foundation allocates its expenses as follows: admin: 29%, programs: 71%, fundraising: 0%. Approximately 71% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation is not reported in the available filings, indicating that key employees, if any, are likely compensated below the IRS reporting threshold or are volunteers.
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 Inter Lakes Scholarship Foundation's IRS 990 filings:
- Lack of detailed program impact reporting beyond financial figures.
- Limited public information regarding governance and board oversight.
Strengths
The following positive indicators were identified for Inter Lakes Scholarship Foundation:
- Consistently high percentage of expenses dedicated to programs (71% in 2023).
- Healthy asset growth over the past several years, from $272,537 in 2019 to $432,403 in 2023.
- No reported fundraising expenses, indicating efficient operations.
Frequently Asked Questions about Inter Lakes Scholarship Foundation
What does Inter Lakes Scholarship Foundation do?
Inter Lakes Scholarship Foundation is a nonprofit organization in the Philanthropy, Voluntarism & Grantmaking sector, located in Meredith, New Hampshire. It is classified under NTEE code T20.
How much revenue does Inter Lakes Scholarship Foundation have?
Inter Lakes Scholarship Foundation reported total revenue of $47,530. Based on 9 IRS 990 filings on record.
What are Inter Lakes Scholarship Foundation's total assets?
Inter Lakes Scholarship Foundation holds total assets of $432,403 as reported in IRS 990 filings.
Where is Inter Lakes Scholarship Foundation located?
Inter Lakes Scholarship Foundation is based in Meredith, New Hampshire.
What is Inter Lakes Scholarship Foundation's EIN?
Inter Lakes Scholarship Foundation's Employer Identification Number (EIN) is 222474302. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Inter Lakes Scholarship Foundation?
Inter Lakes Scholarship Foundation is classified under NTEE code T20 (Philanthropy, Voluntarism & Grantmaking).
Is Inter Lakes Scholarship Foundation a registered 501(c)(3)?
Yes, Inter Lakes Scholarship Foundation is recognized as a tax-exempt organization by the IRS. EIN: 222474302.
Does Inter Lakes Scholarship Foundation file IRS Form 990?
Yes, Inter Lakes Scholarship Foundation has 9 IRS Form 990 filings on record. The most recent covers tax period 202308.
What was Inter Lakes Scholarship Foundation's revenue in 2023?
In the 202308 filing period, Inter Lakes Scholarship Foundation reported total revenue of $24,941, total expenses of $35,020, and net assets of $400,020.
Is Inter Lakes Scholarship Foundation's revenue growing or declining?
Inter Lakes Scholarship Foundation's revenue is declining. Revenue went from $53,387 (202208) to $24,941 (202308), a -53.3% change. Based on 9 filings on record.
What is Inter Lakes Scholarship Foundation's most recent 990 filing?
The most recent IRS Form 990 filing for Inter Lakes Scholarship Foundation covers tax period 202308. It shows revenue of $24,941, expenses of $35,020, total assets of $400,020, and liabilities of $1.
How much does Inter Lakes Scholarship Foundation spend on programs vs administration?
Based on IRS 990 analysis, Inter Lakes Scholarship Foundation allocates approximately 71% of expenses to program services, 29% to administrative costs, and 0% to fundraising. Program spending is moderate relative to overhead.
Is Inter Lakes Scholarship Foundation a trustworthy charity?
Based on AI analysis of IRS 990 data, Inter Lakes Scholarship Foundation appears trustworthy. Mission Score: 85/100 (Excellent). 2 red flags identified. 3 strengths noted.
What are the red flags for Inter Lakes Scholarship Foundation?
The following concerns were identified: Lack of detailed program impact reporting beyond financial figures.. Limited public information regarding governance and board oversight.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Inter Lakes Scholarship Foundation's strengths?
Positive indicators for Inter Lakes Scholarship Foundation include: Consistently high percentage of expenses dedicated to programs (71% in 2023).. Healthy asset growth over the past several years, from $272,537 in 2019 to $432,403 in 2023.. No reported fundraising expenses, indicating efficient operations.. These findings are derived from AI analysis of the organization's financial filings.
How does Inter Lakes Scholarship Foundation compensate executives?
Executive compensation is not reported in the available filings, indicating that key employees, if any, are likely compensated below the IRS reporting threshold or are volunteers. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Inter Lakes Scholarship Foundation?
• Financial data is available through IRS Form 990 filings, but detailed program descriptions and impact reports are not readily accessible on a public website. • The organization's website primarily focuses on scholarship applications and donor information, lacking a dedicated transparency or 'about us' section with comprehensive operational details. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
How does Inter Lakes Scholarship Foundation manage to maintain 0% fundraising expenses while still achieving consistent revenue and asset growth?
The foundation likely relies heavily on established donor relationships, word-of-mouth, and potentially volunteer-led fundraising efforts, as indicated by the absence of reported fundraising costs in their IRS filings. This suggests a highly efficient and community-embedded fundraising model.
Given the significant increase in assets from $272,537 in 2019 to $432,403 in 2023, what is the foundation's strategy for managing and investing these funds to maximize scholarship opportunities?
While specific investment strategies are not detailed in the public filings, the consistent asset growth suggests a prudent financial management approach. Further inquiry would be needed to understand their investment portfolio and how it directly contributes to the sustainability and expansion of their scholarship programs.
Filing History
IRS 990 filing history for Inter Lakes Scholarship Foundation showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2023), Inter Lakes Scholarship Foundation's revenue has declined by 55.9%, moving from $57K to $25K. Total assets increased by 42.6% over the same period, from $281K to $400K. Total functional expenses rose by 20.8%, from $29K to $35K. In its most recent filing year (2023), Inter Lakes Scholarship Foundation reported a deficit of $10K, with expenses exceeding revenue. The organization holds $1 in liabilities against $400K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $400K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $25K | $35K | $400K | $1 | — | View 990 |
| 2022 | $53K | $35K | $336K | $7K | — | View 990 |
| 2021 | $49K | $19K | $318K | $1 | — | — |
| 2020 | $28K | $13K | $288K | $1 | — | View 990 |
| 2019 | $28K | $14K | $273K | $1 | — | View 990 |
| 2015 | $33K | $34K | $239K | $0 | — | View 990 |
| 2013 | $-402 | $25K | $241K | $0 | — | View 990 |
| 2012 | $8K | $23K | $266K | $0 | — | View 990 |
| 2011 | $57K | $29K | $281K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $25K, expenses of $35K, and assets of $400K (revenue -53.3% year-over-year).
- 2022: Revenue of $53K, expenses of $35K, and assets of $336K (revenue +8.9% year-over-year).
- 2021: Revenue of $49K, expenses of $19K, and assets of $318K (revenue +73.4% year-over-year).
- 2020: Revenue of $28K, expenses of $13K, and assets of $288K (revenue +0.6% year-over-year).
- 2019: Revenue of $28K, expenses of $14K, and assets of $273K (revenue -14.6% year-over-year).
- 2015: Revenue of $33K, expenses of $34K, and assets of $239K.
- 2013: Revenue of $-402, expenses of $25K, and assets of $241K (revenue -105.0% year-over-year).
- 2012: Revenue of $8K, expenses of $23K, and assets of $266K (revenue -85.8% year-over-year).
- 2011: Revenue of $57K, expenses of $29K, and assets of $281K.
Data Sources and Methodology
This transparency report for Inter Lakes Scholarship Foundation 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.