Lakewood Tenants Organization Inc

Is Lakewood Tenants Organization Inc Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Lakewood Tenants Organization Inc directs 66% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.

About Lakewood Tenants Organization Inc

Lakewood Tenants Organization Inc (EIN: 222184416) is a nonprofit organization based in Lakewood, NJ, classified under NTEE code L52Z. The organization reported total revenue of $1.9M and total assets of $3.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lakewood Tenants Organization Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Lakewood Tenants Organization Inc is a mid-size nonprofit that has been operating for 47 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.6%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: B

In 2023, Lakewood Tenants Organization Inc reported a deficit of $1.1M with expenses exceeding revenue, holds 12.3 months of operating reserves (strong position), has a debt-to-asset ratio of 2.2% (very low leverage).

Financial Trends

Over 13 years of filings (2011–2023), Lakewood Tenants Organization Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.6%.

IRS Tax-Exempt Classification

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 Lakewood Tenants Organization 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: 24%
• programs: 66%
• fundraising: 10%

According to IRS 990 filings, Lakewood Tenants Organization Inc allocates its expenses as follows: admin: 24%, programs: 66%, fundraising: 10%. Approximately 66% goes to programs, indicating moderate mission focus.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

• The organization reported a deficit of $1.1M, with expenses exceeding revenue.
• Debt-to-asset ratio: 2.2%.

Executive Compensation Analysis

Executive compensation is reported as $0 across all available filings, which is highly unusual for an organization with over $2 million in revenue and $3 million in assets, suggesting potential misreporting or alternative compensation structures.

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 Lakewood Tenants Organization Inc's IRS 990 filings:

• Consistent reporting of $0 for executive compensation raises concerns about transparency and accuracy of financial disclosures.
• Administrative expenses appear high relative to program spending, with 24% of spending allocated to administration in 2023.

Strengths

The following positive indicators were identified for Lakewood Tenants Organization Inc:

• Demonstrates consistent revenue growth over the past seven years, indicating strong fundraising or grant acquisition capabilities.
• Maintains a healthy asset base, with total assets consistently above $3 million.
• Low liabilities relative to assets, suggesting good financial stability.

Frequently Asked Questions about Lakewood Tenants Organization Inc

Filing History

IRS 990 filing history for Lakewood Tenants Organization Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Lakewood Tenants Organization Inc's revenue has grown by 71.8%, moving from $1.2M to $2.1M. Total assets decreased by 32.2% over the same period, from $4.8M to $3.2M. Total functional expenses rose by 164.1%, from $1.2M to $3.2M. In its most recent filing year (2023), Lakewood Tenants Organization Inc reported a deficit of $1.1M, with expenses exceeding revenue. The organization holds $73K in liabilities against $3.2M in assets (debt-to-asset ratio: 2.2%), resulting in net assets of $3.2M.

Year-by-Year Financial Summary

• 2023: Revenue of $2.1M, expenses of $3.2M, and assets of $3.2M (revenue +20.7% year-over-year).
• 2022: Revenue of $1.7M, expenses of $1.1M, and assets of $4.3M (revenue +9.9% year-over-year).
• 2021: Revenue of $1.6M, expenses of $1.7M, and assets of $3.8M (revenue +11.1% year-over-year).
• 2020: Revenue of $1.4M, expenses of $1.2M, and assets of $3.9M (revenue +10.4% year-over-year).
• 2019: Revenue of $1.3M, expenses of $1.2M, and assets of $3.7M (revenue +5.8% year-over-year).
• 2018: Revenue of $1.2M, expenses of $1.0M, and assets of $3.6M (revenue +1.4% year-over-year).
• 2017: Revenue of $1.2M, expenses of $1.3M, and assets of $3.4M (revenue -6.1% year-over-year).
• 2016: Revenue of $1.3M, expenses of $1.9M, and assets of $3.7M (revenue +0.0% year-over-year).
• 2015: Revenue of $1.3M, expenses of $1.5M, and assets of $4.2M (revenue +18.4% year-over-year).
• 2014: Revenue of $1.1M, expenses of $1.2M, and assets of $4.6M (revenue +14.3% year-over-year).
• 2013: Revenue of $940K, expenses of $1.1M, and assets of $4.7M (revenue -22.9% year-over-year).
• 2012: Revenue of $1.2M, expenses of $1.2M, and assets of $4.8M (revenue +0.6% year-over-year).
• 2011: Revenue of $1.2M, expenses of $1.2M, and assets of $4.8M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Lakewood Tenants Organization Inc:

Data Sources and Methodology

This transparency report for Lakewood Tenants Organization 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.