Lake Parsippany Property Owners
Lake Parsippany Property Owners maintains stable finances with growing assets and no reported officer compensation.
EIN: 221054157 · Parsippany, NJ · NTEE: S22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $446K |
| Total Expenses | $458K |
| Program Spending | 85% |
| Net Assets | $678K |
| Transparency Score | 85/100 |
Is Lake Parsippany Property Owners Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lake Parsippany Property Owners directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lake Parsippany Property Owners
Lake Parsippany Property Owners (EIN: 221054157) is a nonprofit organization based in Parsippany, NJ, classified under NTEE code S22. The organization reported total revenue of $446K and total assets of $648K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lake Parsippany Property Owners's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lake Parsippany Property Owners is a small nonprofit that has been operating for 8 years, with 13 years of IRS 990 filings on record (2010–2022). Revenue has grown at a compound annual rate of 8.6%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $470K |
| Total Expenses | $458K |
| Surplus / Deficit | +$12K |
| Total Assets | $725K |
| Total Liabilities | $47K |
| Net Assets | $678K |
| Operating Margin | 2.5% |
| Debt-to-Asset Ratio | 6.5% |
| Months of Reserves | 19.0 months |
Financial Health Grade: A
In 2022, Lake Parsippany Property Owners reported a surplus of $12K with revenue exceeding expenses, holds 19.0 months of operating reserves (strong position), has a debt-to-asset ratio of 6.5% (very low leverage).
Financial Trends
Over 13 years of filings (2010–2022), Lake Parsippany Property Owners's revenue has grown at a compound annual growth rate (CAGR) of 8.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -6.7% | +30.3% | +17.8% |
| 2021 | -25.1% | -4.1% | -13.6% |
| 2020 | +289.5% | +42.6% | +75.0% |
| 2019 | -8.6% | +12.4% | +34.3% |
| 2018 | -11.2% | +7.6% | -11.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2018 |
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 Parsippany Property Owners 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 Parsippany Property Owners 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 (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $12K, with revenue exceeding expenses.
- Debt-to-asset ratio: 6.5%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either entirely volunteer-based or compensated through non-officer categories, which is a strong positive for resource allocation.
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 Lake Parsippany Property Owners:
- Consistent 0% officer compensation reported across all filings, indicating efficient use of funds.
- Healthy and growing asset base, reaching $724,902 in 2022, demonstrating financial stability.
- Low liabilities relative to assets, with a strong asset-to-liability ratio (e.g., 15.5:1 in 2022).
- Regular and timely IRS 990 filings, indicating good transparency and compliance.
- Positive net income in recent years (e.g., $11,689 in 2022), contributing to asset growth.
Frequently Asked Questions about Lake Parsippany Property Owners
Is Lake Parsippany Property Owners a legitimate charity?
Based on AI analysis of IRS 990 filings, Lake Parsippany Property Owners (EIN: 221054157) appears legitimate. Mission Score: 85/100. 0 red flags identified, 5 strengths noted.
How does Lake Parsippany Property Owners spend its money?
Lake Parsippany Property Owners directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lake Parsippany Property Owners tax-deductible?
Lake Parsippany Property Owners is registered as a tax-exempt nonprofit (EIN: 221054157). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Lake Parsippany Property Owners's spending goes to programs?
Lake Parsippany Property Owners directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Lake Parsippany Property Owners compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Lake Parsippany Property Owners is above average for NTEE category S22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Lake Parsippany Property Owners located?
Lake Parsippany Property Owners is headquartered in Parsippany, New Jersey and files with the IRS under EIN 221054157. It is classified under NTEE code S22.
How many years of IRS 990 filings does Lake Parsippany Property Owners have?
Lake Parsippany Property Owners has 13 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 $446K in total revenue.
Is Lake Parsippany Property Owners a good charity?
Based on the available financial data, Lake Parsippany Property Owners appears to be a well-managed organization. It consistently reports 0% officer compensation, maintains healthy asset levels (e.g., $724,902 in 2022), and has a history of regular IRS 990 filings, all of which are positive indicators of a responsible and transparent entity.
How has the organization's revenue trended over time?
Revenue has fluctuated, with a significant increase in recent years. For example, revenue jumped from $172,520 in 2019 to $671,891 in 2020, then stabilized around $400k-$500k in 2021 and 2022 ($503,205 and $469,703 respectively), indicating a period of substantial growth and subsequent stability.
What is the organization's asset-to-liability ratio?
In 2022, the organization had assets of $724,902 and liabilities of $46,823, resulting in a very strong asset-to-liability ratio of approximately 15.5:1, indicating excellent financial solvency.
Filing History
IRS 990 filing history for Lake Parsippany Property Owners showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2010–2022), Lake Parsippany Property Owners's revenue has grown by 170.2%, moving from $174K to $470K. Total assets decreased by 28.7% over the same period, from $1.0M to $725K. Total functional expenses rose by 177.9%, from $165K to $458K. In its most recent filing year (2022), Lake Parsippany Property Owners reported a surplus of $12K, with revenue exceeding expenses. The organization holds $47K in liabilities against $725K in assets (debt-to-asset ratio: 6.5%), resulting in net assets of $678K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $470K | $458K | $725K | $47K | — | View 990 |
| 2021 | $503K | $351K | $615K | $1K | — | — |
| 2020 | $672K | $367K | $712K | $307 | — | — |
| 2019 | $173K | $257K | $407K | $210 | — | View 990 |
| 2018 | $189K | $229K | $303K | $0 | — | View 990 |
| 2017 | $212K | $213K | $343K | $0 | — | — |
| 2016 | $191K | $201K | $343K | $0 | — | — |
| 2015 | $157K | $195K | $353K | $0 | — | — |
| 2014 | $183K | $206K | $356K | $0 | — | — |
| 2013 | $169K | $170K | $379K | $0 | — | — |
| 2012 | $167K | $178K | $381K | $0 | — | — |
| 2011 | $184K | $169K | $392K | $0 | — | — |
| 2010 | $174K | $165K | $1.0M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $470K, expenses of $458K, and assets of $725K (revenue -6.7% year-over-year).
- 2021: Revenue of $503K, expenses of $351K, and assets of $615K (revenue -25.1% year-over-year).
- 2020: Revenue of $672K, expenses of $367K, and assets of $712K (revenue +289.5% year-over-year).
- 2019: Revenue of $173K, expenses of $257K, and assets of $407K (revenue -8.6% year-over-year).
- 2018: Revenue of $189K, expenses of $229K, and assets of $303K (revenue -11.2% year-over-year).
- 2017: Revenue of $212K, expenses of $213K, and assets of $343K (revenue +11.4% year-over-year).
- 2016: Revenue of $191K, expenses of $201K, and assets of $343K (revenue +21.1% year-over-year).
- 2015: Revenue of $157K, expenses of $195K, and assets of $353K (revenue -13.8% year-over-year).
- 2014: Revenue of $183K, expenses of $206K, and assets of $356K (revenue +8.2% year-over-year).
- 2013: Revenue of $169K, expenses of $170K, and assets of $379K (revenue +1.2% year-over-year).
- 2012: Revenue of $167K, expenses of $178K, and assets of $381K (revenue -9.4% year-over-year).
- 2011: Revenue of $184K, expenses of $169K, and assets of $392K (revenue +5.9% year-over-year).
- 2010: Revenue of $174K, expenses of $165K, and assets of $1.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lake Parsippany Property Owners:
Data Sources and Methodology
This transparency report for Lake Parsippany Property Owners 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.