Lake Preston Development Corporation
EIN: 510199304 · Lake Preston, SD
| Metric | Value |
|---|---|
| Total Revenue | $7K |
| Total Expenses | $3K |
| Net Assets | $693K |
Is Lake Preston Development Corporation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Lake Preston Development Corporation
Lake Preston Development Corporation (EIN: 510199304) is a nonprofit organization based in Lake Preston, SD. The organization reported total revenue of $7K and total assets of $568K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lake Preston Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lake Preston Development Corporation is a micro nonprofit that has been operating for 49 years, with 11 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 19.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $130K |
| Total Expenses | $3K |
| Surplus / Deficit | +$126K |
| Total Assets | $693K |
| Net Assets | $693K |
| Operating Margin | 97.5% |
| Months of Reserves | 2590.3 months |
Financial Health Grade: A
In 2023, Lake Preston Development Corporation reported a surplus of $126K with revenue exceeding expenses, holds 2590.3 months of operating reserves (strong position).
Financial Trends
Over 11 years of filings (2011–2023), Lake Preston Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 19.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -55.8% | -96.5% | +55.9% |
| 2022 | +472.8% | +9.4% | +29.8% |
| 2021 | +23.7% | +691.1% | -9.0% |
| 2020 | -13.4% | -80.0% | -1.4% |
| 2018 | +79.3% | +254.5% | -1.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1977 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Lake Preston Development Corporation 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 Preston Development Corporation 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $126K, with revenue exceeding expenses.
Frequently Asked Questions about Lake Preston Development Corporation
Is Lake Preston Development Corporation a legitimate charity?
Lake Preston Development Corporation (EIN: 510199304) is a registered tax-exempt nonprofit based in South Dakota. It has 11 years of IRS 990 filings on record. Total revenue: $7K. No red flags identified. Financial health grade: A.
How does Lake Preston Development Corporation spend its money?
Lake Preston Development Corporation reported $7K in total revenue in IRS 990 filings. 11 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Lake Preston Development Corporation tax-deductible?
Lake Preston Development Corporation is registered as a tax-exempt nonprofit (EIN: 510199304). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Lake Preston Development Corporation located?
Lake Preston Development Corporation is headquartered in Lake Preston, South Dakota and files with the IRS under EIN 510199304.
How many years of IRS 990 filings does Lake Preston Development Corporation have?
Lake Preston Development Corporation has 11 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 $7K in total revenue.
Filing History
IRS 990 filing history for Lake Preston Development Corporation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2023), Lake Preston Development Corporation's revenue has grown by 710.1%, moving from $16K to $130K. Total assets increased by 181.6% over the same period, from $246K to $693K. Total functional expenses fell by 51.7%, from $7K to $3K. In its most recent filing year (2023), Lake Preston Development Corporation reported a surplus of $126K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $130K | $3K | $693K | $0 | — | — |
| 2022 | $293K | $93K | $444K | $0 | — | View 990 |
| 2021 | $51K | $85K | $342K | $0 | — | View 990 |
| 2020 | $41K | $11K | $376K | $0 | — | View 990 |
| 2018 | $48K | $54K | $382K | $59K | — | View 990 |
| 2017 | $27K | $15K | $388K | $59K | — | View 990 |
| 2015 | $30K | $7K | $300K | $0 | — | View 990 |
| 2014 | $19K | $14K | $277K | $0 | — | View 990 |
| 2013 | $20K | $5K | $273K | $0 | — | View 990 |
| 2012 | $27K | $15K | $258K | $0 | — | View 990 |
| 2011 | $16K | $7K | $246K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $130K, expenses of $3K, and assets of $693K (revenue -55.8% year-over-year).
- 2022: Revenue of $293K, expenses of $93K, and assets of $444K (revenue +472.8% year-over-year).
- 2021: Revenue of $51K, expenses of $85K, and assets of $342K (revenue +23.7% year-over-year).
- 2020: Revenue of $41K, expenses of $11K, and assets of $376K (revenue -13.4% year-over-year).
- 2018: Revenue of $48K, expenses of $54K, and assets of $382K (revenue +79.3% year-over-year).
- 2017: Revenue of $27K, expenses of $15K, and assets of $388K (revenue -11.0% year-over-year).
- 2015: Revenue of $30K, expenses of $7K, and assets of $300K (revenue +60.1% year-over-year).
- 2014: Revenue of $19K, expenses of $14K, and assets of $277K (revenue -5.3% year-over-year).
- 2013: Revenue of $20K, expenses of $5K, and assets of $273K (revenue -26.0% year-over-year).
- 2012: Revenue of $27K, expenses of $15K, and assets of $258K (revenue +67.1% year-over-year).
- 2011: Revenue of $16K, expenses of $7K, and assets of $246K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lake Preston Development Corporation:
Data Sources and Methodology
This transparency report for Lake Preston Development 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.