Lake Memorial Library Fund
EIN: 646020755 · Ridgeland, MS · NTEE: B71I
| Metric | Value |
|---|---|
| Total Revenue | $627K |
| Total Expenses | $71K |
| Net Assets | $2.3M |
Is Lake Memorial Library Fund Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Lake Memorial Library Fund
Lake Memorial Library Fund (EIN: 646020755) is a nonprofit organization based in Ridgeland, MS, classified under NTEE code B71I. The organization reported total revenue of $627K and total assets of $2.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lake Memorial Library Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lake Memorial Library Fund is a small nonprofit that has been operating for 76 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 1.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $87K |
| Total Expenses | $71K |
| Surplus / Deficit | +$15K |
| Total Assets | $2.3M |
| Net Assets | $2.3M |
| Operating Margin | 17.8% |
| Months of Reserves | 386.3 months |
Financial Health Grade: A
In 2024, Lake Memorial Library Fund reported a surplus of $15K with revenue exceeding expenses, holds 386.3 months of operating reserves (strong position).
Financial Trends
Over 14 years of filings (2011–2024), Lake Memorial Library Fund's revenue has grown at a compound annual growth rate (CAGR) of 1.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -12.2% | -5.1% | +0.7% |
| 2023 | -18.4% | -4.1% | +1.0% |
| 2022 | -12.9% | -1.9% | +1.9% |
| 2021 | +73.7% | +10.8% | +2.8% |
| 2020 | -10.1% | -10.8% | +0.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1950 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Lake Memorial Library Fund has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Lake Memorial Library Fund with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $15K, with revenue exceeding expenses.
Frequently Asked Questions about Lake Memorial Library Fund
Is Lake Memorial Library Fund a legitimate charity?
Lake Memorial Library Fund (EIN: 646020755) is a registered tax-exempt nonprofit based in Mississippi. It has 14 years of IRS 990 filings on record. Total revenue: $627K. No red flags identified. Financial health grade: A.
How does Lake Memorial Library Fund spend its money?
Lake Memorial Library Fund reported $627K in total revenue in IRS 990 filings. 14 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Lake Memorial Library Fund tax-deductible?
Lake Memorial Library Fund is registered as a tax-exempt nonprofit (EIN: 646020755). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Lake Memorial Library Fund located?
Lake Memorial Library Fund is headquartered in Ridgeland, Mississippi and files with the IRS under EIN 646020755. It is classified under NTEE code B71I.
How many years of IRS 990 filings does Lake Memorial Library Fund have?
Lake Memorial Library Fund has 14 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 $627K in total revenue.
Filing History
IRS 990 filing history for Lake Memorial Library Fund showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Lake Memorial Library Fund's revenue has grown by 23.8%, moving from $70K to $87K. Total assets increased by 34.1% over the same period, from $1.7M to $2.3M. Total functional expenses rose by 22%, from $58K to $71K. In its most recent filing year (2024), Lake Memorial Library Fund reported a surplus of $15K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $87K | $71K | $2.3M | $0 | — | — |
| 2023 | $99K | $75K | $2.3M | $0 | — | View 990 |
| 2022 | $121K | $78K | $2.3M | $0 | — | View 990 |
| 2021 | $139K | $80K | $2.2M | $0 | — | — |
| 2020 | $80K | $72K | $2.2M | $0 | — | View 990 |
| 2019 | $89K | $81K | $2.1M | $0 | — | View 990 |
| 2018 | $91K | $26K | $2.1M | $0 | — | View 990 |
| 2017 | $135K | $68K | $2.1M | $0 | — | View 990 |
| 2016 | $112K | $87K | $2.0M | $0 | — | View 990 |
| 2015 | $268K | $73K | $2.0M | $0 | — | View 990 |
| 2014 | $100K | $58K | $1.8M | $0 | — | View 990 |
| 2013 | $81K | $62K | $1.7M | $0 | — | View 990 |
| 2012 | $73K | $61K | $1.7M | $0 | — | View 990 |
| 2011 | $70K | $58K | $1.7M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $87K, expenses of $71K, and assets of $2.3M (revenue -12.2% year-over-year).
- 2023: Revenue of $99K, expenses of $75K, and assets of $2.3M (revenue -18.4% year-over-year).
- 2022: Revenue of $121K, expenses of $78K, and assets of $2.3M (revenue -12.9% year-over-year).
- 2021: Revenue of $139K, expenses of $80K, and assets of $2.2M (revenue +73.7% year-over-year).
- 2020: Revenue of $80K, expenses of $72K, and assets of $2.2M (revenue -10.1% year-over-year).
- 2019: Revenue of $89K, expenses of $81K, and assets of $2.1M (revenue -2.7% year-over-year).
- 2018: Revenue of $91K, expenses of $26K, and assets of $2.1M (revenue -32.3% year-over-year).
- 2017: Revenue of $135K, expenses of $68K, and assets of $2.1M (revenue +20.2% year-over-year).
- 2016: Revenue of $112K, expenses of $87K, and assets of $2.0M (revenue -58.1% year-over-year).
- 2015: Revenue of $268K, expenses of $73K, and assets of $2.0M (revenue +167.8% year-over-year).
- 2014: Revenue of $100K, expenses of $58K, and assets of $1.8M (revenue +23.9% year-over-year).
- 2013: Revenue of $81K, expenses of $62K, and assets of $1.7M (revenue +11.1% year-over-year).
- 2012: Revenue of $73K, expenses of $61K, and assets of $1.7M (revenue +3.7% year-over-year).
- 2011: Revenue of $70K, expenses of $58K, and assets of $1.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lake Memorial Library Fund:
Data Sources and Methodology
This transparency report for Lake Memorial Library Fund 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.