Lake George Association Inc

Is Lake George Association Inc Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Lake George Association Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Lake George Association Inc

Lake George Association Inc (EIN: 146000565) is a nonprofit organization based in Lake George, NY, classified under NTEE code A82Z. The organization reported total revenue of $5.2M and total assets of $22.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lake George Association Inc'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 Lake George Association Inc 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: 10%
• programs: 85%
• fundraising: 5%

According to IRS 990 filings, Lake George Association 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.

Executive Compensation Analysis

The reported 0% officer compensation across all available filings is highly unusual for an organization of this size with over $3 million in annual expenses, suggesting either a fully volunteer executive leadership or that executive compensation is categorized under other expense lines, which would require deeper scrutiny of their full IRS Form 990s for clarity.

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 Lake George Association Inc's IRS 990 filings:

• Unusually low or 0% reported officer compensation across all filings, which may obscure actual executive remuneration if it's categorized elsewhere.

Strengths

The following positive indicators were identified for Lake George Association Inc:

• Significant asset growth from $4.5M in 2014 to over $20M in 2023, indicating strong financial management and fundraising.
• Consistent operational surpluses, with expenses generally lower than revenue (e.g., $3,648,389 expenses vs. $3,779,824 revenue in 2023).
• Low liabilities relative to assets, demonstrating a strong balance sheet and financial health.
• Strong program focus implied by the NTEE code A82Z (Water Quality, General) and the nature of the organization.

Frequently Asked Questions about Lake George Association Inc

Filing History

IRS 990 filing history for Lake George Association Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Lake George Association Inc's revenue has grown by 95.1%, moving from $1.9M to $3.8M. Total assets increased by 421.5% over the same period, from $3.9M to $20.3M. Total functional expenses rose by 135.2%, from $1.6M to $3.6M. In its most recent filing year (2023), Lake George Association Inc reported a surplus of $131K, with revenue exceeding expenses. The organization holds $550K in liabilities against $20.3M in assets (debt-to-asset ratio: 2.7%), resulting in net assets of $19.8M.

Year-by-Year Financial Summary

• 2023: Revenue of $3.8M, expenses of $3.6M, and assets of $20.3M (revenue +4.6% year-over-year).
• 2022: Revenue of $3.6M, expenses of $3.3M, and assets of $17.9M (revenue -47.4% year-over-year).
• 2021: Revenue of $6.9M, expenses of $2.3M, and assets of $20.5M (revenue +371.0% year-over-year).
• 2020: Revenue of $1.5M, expenses of $1.2M, and assets of $6.7M (revenue -8.1% year-over-year).
• 2019: Revenue of $1.6M, expenses of $1.4M, and assets of $6.0M (revenue +0.1% year-over-year).
• 2018: Revenue of $1.6M, expenses of $1.1M, and assets of $5.3M (revenue +40.3% year-over-year).
• 2017: Revenue of $1.1M, expenses of $1.1M, and assets of $5.2M (revenue -14.5% year-over-year).
• 2016: Revenue of $1.3M, expenses of $1.1M, and assets of $4.8M (revenue +2.8% year-over-year).
• 2015: Revenue of $1.3M, expenses of $985K, and assets of $4.6M (revenue +4.3% year-over-year).
• 2014: Revenue of $1.2M, expenses of $884K, and assets of $4.5M (revenue -15.0% year-over-year).
• 2013: Revenue of $1.5M, expenses of $989K, and assets of $4.3M (revenue -1.5% year-over-year).
• 2012: Revenue of $1.5M, expenses of $1.5M, and assets of $3.8M (revenue -24.0% year-over-year).
• 2011: Revenue of $1.9M, expenses of $1.6M, and assets of $3.9M.

Data Sources and Methodology

This transparency report for Lake George Association 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.