Lakeview Apartments Inc
Lakeview Apartments Inc. consistently operates at a deficit, drawing down assets to cover expenses.
EIN: 204398465 · Paragould, AR · NTEE: L22 · Updated: 2026-03-28
Is Lakeview Apartments Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lakeview Apartments Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lakeview Apartments Inc
Lakeview Apartments Inc (EIN: 204398465) is a nonprofit organization based in Paragould, AR, classified under NTEE code L22. The organization reported total revenue of $86K and total assets of $742K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lakeview Apartments Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lakeview Apartments Inc is a micro nonprofit that has been operating for 20 years, with 11 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 1.6%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $75K |
| Total Expenses | $127K |
| Surplus / Deficit | $-51,874 |
| Total Assets | $833K |
| Total Liabilities | $15K |
| Net Assets | $818K |
| Operating Margin | -69.4% |
| Debt-to-Asset Ratio | 1.8% |
| Months of Reserves | 78.9 months |
Financial Health Grade: B
In 2022, Lakeview Apartments Inc reported a deficit of $52K with expenses exceeding revenue, holds 78.9 months of operating reserves (strong position), has a debt-to-asset ratio of 1.8% (very low leverage).
Financial Trends
Over 11 years of filings (2011–2022), Lakeview Apartments Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -6.5% | +1.0% | -5.1% |
| 2021 | +8.2% | +1.9% | -8.3% |
| 2019 | -7.0% | -13.1% | -6.2% |
| 2018 | +5.3% | +12.0% | -4.0% |
| 2017 | -9.2% | +9.0% | -3.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Lakeview Apartments Inc with a Mission Score of 65 out of 100 (Good). 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, Lakeview Apartments Inc 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 (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $52K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.8%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees are receiving salaries from the organization, which is highly commendable for a nonprofit of this size.
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 Lakeview Apartments Inc's IRS 990 filings:
- Consistent operational deficits (e.g., $51,874 deficit in 2022)
- Declining asset base over multiple years (e.g., $1,145,583 in 2015 to $833,139 in 2022)
- Expenses consistently exceeding revenue in all reported periods
Strengths
The following positive indicators were identified for Lakeview Apartments Inc:
- Zero officer compensation reported across all filings, indicating efficient use of funds for mission.
- Consistent filing history, demonstrating transparency and compliance.
Frequently Asked Questions about Lakeview Apartments Inc
Is Lakeview Apartments Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lakeview Apartments Inc (EIN: 204398465) some concerns. Mission Score: 65/100. 3 red flags identified, 2 strengths noted.
How does Lakeview Apartments Inc spend its money?
Lakeview Apartments Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lakeview Apartments Inc tax-deductible?
Lakeview Apartments Inc is registered as a tax-exempt nonprofit (EIN: 204398465). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Lakeview Apartments Inc. financially sustainable?
Based on the consistent operational deficits (e.g., $74,796 revenue vs. $126,670 expenses in 2022) and declining assets (from $1,145,583 in 2015 to $833,139 in 2022), the current financial model appears unsustainable in the long term without significant changes to revenue generation or expense management.
How does Lakeview Apartments Inc. cover its operational deficits?
The consistent decline in assets over the years suggests that the organization is covering its operational deficits by drawing down its reserves or accumulated assets. For instance, assets decreased by over $44,000 between 2021 and 2022, while expenses exceeded revenue by over $50,000 in 2022.
What is the trend in the organization's assets?
The organization's assets have shown a consistent downward trend, decreasing from $1,145,583 in 2015 to $833,139 in 2022, indicating a depletion of financial reserves.
Filing History
IRS 990 filing history for Lakeview Apartments Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2022), Lakeview Apartments Inc's revenue has grown by 19.6%, moving from $63K to $75K. Total assets increased by 1231.8% over the same period, from $63K to $833K. Total functional expenses rose by 3.2%, from $123K to $127K. In its most recent filing year (2022), Lakeview Apartments Inc reported a deficit of $52K, with expenses exceeding revenue. The organization holds $15K in liabilities against $833K in assets (debt-to-asset ratio: 1.8%), resulting in net assets of $818K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $75K | $127K | $833K | $15K | — | — |
| 2021 | $80K | $125K | $878K | $8K | — | — |
| 2019 | $74K | $123K | $957K | $15K | — | View 990 |
| 2018 | $80K | $142K | $1.0M | $29K | — | View 990 |
| 2017 | $76K | $127K | $1.1M | $24K | — | View 990 |
| 2016 | $83K | $116K | $1.1M | $14K | — | View 990 |
| 2015 | $77K | $107K | $1.1M | $23K | — | View 990 |
| 2014 | $72K | $112K | $72K | $112K | — | View 990 |
| 2013 | $67K | $106K | $67K | $106K | — | View 990 |
| 2012 | $64K | $129K | $64K | $129K | — | View 990 |
| 2011 | $63K | $123K | $63K | $123K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $75K, expenses of $127K, and assets of $833K (revenue -6.5% year-over-year).
- 2021: Revenue of $80K, expenses of $125K, and assets of $878K (revenue +8.2% year-over-year).
- 2019: Revenue of $74K, expenses of $123K, and assets of $957K (revenue -7.0% year-over-year).
- 2018: Revenue of $80K, expenses of $142K, and assets of $1.0M (revenue +5.3% year-over-year).
- 2017: Revenue of $76K, expenses of $127K, and assets of $1.1M (revenue -9.2% year-over-year).
- 2016: Revenue of $83K, expenses of $116K, and assets of $1.1M (revenue +8.4% year-over-year).
- 2015: Revenue of $77K, expenses of $107K, and assets of $1.1M (revenue +6.9% year-over-year).
- 2014: Revenue of $72K, expenses of $112K, and assets of $72K (revenue +6.7% year-over-year).
- 2013: Revenue of $67K, expenses of $106K, and assets of $67K (revenue +5.6% year-over-year).
- 2012: Revenue of $64K, expenses of $129K, and assets of $64K (revenue +1.8% year-over-year).
- 2011: Revenue of $63K, expenses of $123K, and assets of $63K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lakeview Apartments Inc:
Data Sources and Methodology
This transparency report for Lakeview Apartments 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.