Lakeridge Village Inc
Lakeridge Village Inc. shows significant recent growth in revenue and assets with no reported officer compensation.
EIN: 204986314 · Detroit, MI · NTEE: P28 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $1.2M |
| Program Spending | 90% |
| Net Assets | $7K |
| Transparency Score | 85/100 |
Is Lakeridge Village Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lakeridge Village Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lakeridge Village Inc
Lakeridge Village Inc (EIN: 204986314) is a nonprofit organization based in Detroit, MI, classified under NTEE code P28. The organization reported total revenue of $1.8M and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lakeridge Village Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lakeridge Village Inc is a mid-size nonprofit that has been operating for 19 years, with 12 years of IRS 990 filings on record (2010–2022). Revenue has grown at a compound annual rate of 16.5%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.2M |
| Total Expenses | $1.2M |
| Surplus / Deficit | +$851 |
| Total Assets | $208K |
| Total Liabilities | $200K |
| Net Assets | $7K |
| Operating Margin | 0.1% |
| Debt-to-Asset Ratio | 96.5% |
| Months of Reserves | 2.0 months |
Financial Health Grade: B
In 2022, Lakeridge Village Inc reported a surplus of $851 with revenue exceeding expenses, holds 2.0 months of operating reserves (limited), has a debt-to-asset ratio of 96.5% (high leverage).
Financial Trends
Over 12 years of filings (2010–2022), Lakeridge Village Inc's revenue has grown at a compound annual growth rate (CAGR) of 16.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +210.6% | +310.1% | +22.6% |
| 2021 | -16.3% | -34.0% | +4.8% |
| 2020 | -42.8% | -38.3% | -67.8% |
| 2018 | +9.8% | +9.9% | -13.5% |
| 2017 | -0.5% | -16.0% | +91.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2007 |
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 Lakeridge Village 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Lakeridge Village Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% 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 $851, with revenue exceeding expenses.
- Debt-to-asset ratio: 96.5%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation, which is highly favorable for a nonprofit of this size and suggests strong fiscal responsibility.
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 Lakeridge Village Inc's IRS 990 filings:
- Tight operating margins in some periods (e.g., 202209: Revenue $1,216,502 vs. Expenses $1,215,651)
Strengths
The following positive indicators were identified for Lakeridge Village Inc:
- Consistent 0% officer compensation reported across all filings
- Significant growth in revenue and assets in recent periods (e.g., Assets grew from $207,518 in 202209 to $1,139,417 currently)
- Positive net assets in most recent filings, indicating financial stability
- Clear program focus based on NTEE code P28 (Housing for the Elderly)
Frequently Asked Questions about Lakeridge Village Inc
Is Lakeridge Village Inc a legitimate charity?
Lakeridge Village Inc (EIN: 204986314) is a registered tax-exempt nonprofit based in Michigan. Our AI analysis gives it a Mission Score of 85/100. It has 12 years of IRS 990 filings on record. Total revenue: $1.8M. 1 red flag identified. 4 strengths noted. Financial health grade: B.
How does Lakeridge Village Inc spend its money?
Lakeridge Village Inc directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Lakeridge Village Inc tax-deductible?
Lakeridge Village Inc is registered as a tax-exempt nonprofit (EIN: 204986314). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Lakeridge Village Inc's spending goes to programs?
Lakeridge Village Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Lakeridge Village Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Lakeridge Village Inc is above average for NTEE category P28 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Lakeridge Village Inc located?
Lakeridge Village Inc is headquartered in Detroit, Michigan and files with the IRS under EIN 204986314. It is classified under NTEE code P28.
How many years of IRS 990 filings does Lakeridge Village Inc have?
Lakeridge Village Inc 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 $1.8M in total revenue.
Is Lakeridge Village Inc. a good charity?
Based on the available data, Lakeridge Village Inc. appears to be a good charity. It shows strong financial growth, particularly in recent years, and a commendable commitment to not paying officer compensation, suggesting funds are directed towards its mission. The tight operating margins in some years indicate efficient, lean operations.
How has Lakeridge Village Inc.'s financial health changed over time?
Lakeridge Village Inc. has experienced significant financial growth, especially between the 202109 period (Revenue $391,657, Assets $169,201) and the 202209 period (Revenue $1,216,502, Assets $207,518), culminating in the latest reported revenue of $1,770,680 and assets of $1,139,417. This indicates a substantial expansion in its operations and financial capacity.
What is the organization's approach to executive compensation?
The organization consistently reports 0% officer compensation across all available IRS 990 filings, indicating a strong commitment to minimizing administrative overhead and directing resources to its programs.
Filing History
IRS 990 filing history for Lakeridge Village Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2010–2022), Lakeridge Village Inc's revenue has grown by 527.2%, moving from $194K to $1.2M. Total assets increased by 20751700% over the same period, from $1 to $208K. Total functional expenses rose by 526.7%, from $194K to $1.2M. In its most recent filing year (2022), Lakeridge Village Inc reported a surplus of $851, with revenue exceeding expenses. The organization holds $200K in liabilities against $208K in assets (debt-to-asset ratio: 96.5%), resulting in net assets of $7K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $1.2M | $1.2M | $208K | $200K | — | View 990 |
| 2021 | $392K | $296K | $169K | $74K | — | View 990 |
| 2020 | $468K | $449K | $161K | $142K | — | — |
| 2018 | $818K | $728K | $501K | $239K | — | View 990 |
| 2017 | $745K | $663K | $579K | $344K | — | View 990 |
| 2016 | $749K | $789K | $302K | $328K | — | — |
| 2015 | $808K | $798K | $235K | $293K | — | — |
| 2014 | $563K | $477K | $282K | $218K | — | — |
| 2013 | $754K | $795K | $167K | $209K | — | View 990 |
| 2012 | $0 | $0 | $0 | $0 | — | View 990 |
| 2011 | $0 | $0 | $0 | $0 | — | — |
| 2010 | $194K | $194K | $1 | $0 | — | — |
Year-by-Year Financial Summary
- 2022: Revenue of $1.2M, expenses of $1.2M, and assets of $208K (revenue +210.6% year-over-year).
- 2021: Revenue of $392K, expenses of $296K, and assets of $169K (revenue -16.3% year-over-year).
- 2020: Revenue of $468K, expenses of $449K, and assets of $161K (revenue -42.8% year-over-year).
- 2018: Revenue of $818K, expenses of $728K, and assets of $501K (revenue +9.8% year-over-year).
- 2017: Revenue of $745K, expenses of $663K, and assets of $579K (revenue -0.5% year-over-year).
- 2016: Revenue of $749K, expenses of $789K, and assets of $302K (revenue -7.3% year-over-year).
- 2015: Revenue of $808K, expenses of $798K, and assets of $235K (revenue +43.4% year-over-year).
- 2014: Revenue of $563K, expenses of $477K, and assets of $282K (revenue -25.3% year-over-year).
- 2013: Revenue of $754K, expenses of $795K, and assets of $167K.
- 2012: Revenue of $0, expenses of $0, and assets of $0.
- 2011: Revenue of $0, expenses of $0, and assets of $0 (revenue -100.0% year-over-year).
- 2010: Revenue of $194K, expenses of $194K, and assets of $1.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lakeridge Village Inc:
Data Sources and Methodology
This transparency report for Lakeridge Village 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.