Lake George Corporation
Lake George Corporation shows consistent asset growth and zero officer compensation over a decade.
EIN: 10477896 · Skowhegan, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $312K |
| Total Expenses | $204K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $864,400. |
| Net Assets | $852K |
| Transparency Score | 85/100 |
Is Lake George Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lake George Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lake George Corporation
Lake George Corporation (EIN: 10477896) is a nonprofit organization based in Skowhegan, ME. The organization reported total revenue of $312K and total assets of $845K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lake George Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lake George Corporation is a small nonprofit that has been operating for 33 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $234K |
| Total Expenses | $204K |
| Surplus / Deficit | +$30K |
| Total Assets | $864K |
| Total Liabilities | $12K |
| Net Assets | $852K |
| Operating Margin | 12.7% |
| Debt-to-Asset Ratio | 1.4% |
| Months of Reserves | 50.8 months |
Financial Health Grade: A
In 2023, Lake George Corporation reported a surplus of $30K with revenue exceeding expenses, holds 50.8 months of operating reserves (strong position), has a debt-to-asset ratio of 1.4% (very low leverage).
Financial Trends
Over 12 years of filings (2011–2023), Lake George Corporation's revenue has grown at a compound annual growth rate (CAGR) of 5.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -16.1% | -9.6% | +10.1% |
| 2022 | -24.1% | +15.6% | +2.3% |
| 2021 | -12.4% | +24.9% | +32.7% |
| 2020 | +142.4% | +10.7% | +90.4% |
| 2019 | -9.8% | +5.7% | +28.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1993 |
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 Lake George Corporation 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Lake George Corporation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $30K, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.4%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are not compensated, which is highly favorable for an organization of its size with assets growing to over $864,400.
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 Corporation's IRS 990 filings:
- NTEE Code is unknown, limiting understanding of specific mission area.
- Detailed breakdown of program, administrative, and fundraising expenses is not provided in the summary data, preventing a precise efficiency calculation.
Strengths
The following positive indicators were identified for Lake George Corporation:
- Consistent asset growth, from $169,309 in 2014 to $864,400 in 2023, indicating strong financial management.
- Zero officer compensation reported across all filings, suggesting a volunteer-driven or highly efficient executive structure.
- Low liabilities relative to assets (e.g., $12,482 liabilities vs. $864,400 assets in 2023), indicating strong financial stability.
- Expenses consistently lower than revenue in most years, leading to healthy surpluses and asset accumulation.
Frequently Asked Questions about Lake George Corporation
Is Lake George Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Lake George Corporation (EIN: 10477896) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Lake George Corporation spend its money?
Lake George Corporation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lake George Corporation tax-deductible?
Lake George Corporation is registered as a tax-exempt nonprofit (EIN: 10477896). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Lake George Corporation CEO make?
Lake George Corporation's highest-compensated officer earns $864,400. annually. The organization reported $312K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Lake George Corporation's spending goes to programs?
Lake George Corporation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Lake George Corporation located?
Lake George Corporation is headquartered in Skowhegan, Maine and files with the IRS under EIN 10477896.
How many years of IRS 990 filings does Lake George Corporation have?
Lake George Corporation 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 $312K in total revenue.
Is Lake George Corporation a good charity?
Based on the available financial data, Lake George Corporation appears to be a well-managed organization with strong financial health, consistent asset growth, and a commitment to zero officer compensation. Its ability to maintain low liabilities and generate surpluses suggests effective stewardship of funds.
How has Lake George Corporation's financial health changed over time?
The organization's financial health has significantly improved over the past decade, with assets growing from $169,309 in 2014 to $864,400 in 2023. Revenue and expenses have fluctuated, but expenses have generally remained well below revenue, contributing to this asset growth.
What is the trend in Lake George Corporation's revenue and expenses?
Revenue has shown variability, peaking at $419,740 in 2020 and most recently at $233,994 in 2023. Expenses have generally increased over time but have consistently been lower than revenue in most years, allowing for financial growth.
Filing History
IRS 990 filing history for Lake George Corporation showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Lake George Corporation's revenue has grown by 90.7%, moving from $123K to $234K. Total assets increased by 542.9% over the same period, from $134K to $864K. Total functional expenses rose by 67.5%, from $122K to $204K. In its most recent filing year (2023), Lake George Corporation reported a surplus of $30K, with revenue exceeding expenses. The organization holds $12K in liabilities against $864K in assets (debt-to-asset ratio: 1.4%), resulting in net assets of $852K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $234K | $204K | $864K | $12K | — | — |
| 2022 | $279K | $226K | $785K | $6K | — | View 990 |
| 2021 | $368K | $195K | $767K | $6K | — | View 990 |
| 2020 | $420K | $157K | $578K | $2K | — | View 990 |
| 2019 | $173K | $141K | $304K | $707 | — | View 990 |
| 2018 | $192K | $134K | $236K | $270 | — | View 990 |
| 2017 | $158K | $117K | $190K | $132 | — | — |
| 2016 | $103K | $112K | $134K | $0 | — | View 990 |
| 2015 | $134K | $137K | $152K | $0 | — | View 990 |
| 2014 | $149K | $154K | $169K | $0 | — | View 990 |
| 2013 | $143K | $134K | $184K | $0 | — | View 990 |
| 2011 | $123K | $122K | $134K | $0 | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $234K, expenses of $204K, and assets of $864K (revenue -16.1% year-over-year).
- 2022: Revenue of $279K, expenses of $226K, and assets of $785K (revenue -24.1% year-over-year).
- 2021: Revenue of $368K, expenses of $195K, and assets of $767K (revenue -12.4% year-over-year).
- 2020: Revenue of $420K, expenses of $157K, and assets of $578K (revenue +142.4% year-over-year).
- 2019: Revenue of $173K, expenses of $141K, and assets of $304K (revenue -9.8% year-over-year).
- 2018: Revenue of $192K, expenses of $134K, and assets of $236K (revenue +21.6% year-over-year).
- 2017: Revenue of $158K, expenses of $117K, and assets of $190K (revenue +53.3% year-over-year).
- 2016: Revenue of $103K, expenses of $112K, and assets of $134K (revenue -23.1% year-over-year).
- 2015: Revenue of $134K, expenses of $137K, and assets of $152K (revenue -10.2% year-over-year).
- 2014: Revenue of $149K, expenses of $154K, and assets of $169K (revenue +4.2% year-over-year).
- 2013: Revenue of $143K, expenses of $134K, and assets of $184K (revenue +16.6% year-over-year).
- 2011: Revenue of $123K, expenses of $122K, and assets of $134K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lake George Corporation:
Data Sources and Methodology
This transparency report for Lake George Corporation 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.