Lancaster County Virginia Education Foundation Inc
Lancaster County Virginia Education Foundation shows strong asset growth and no executive compensation, despite a recent operating deficit.
EIN: 113818945 · Kilmarnock, VA · NTEE: B12 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $330K |
| Total Expenses | $313K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $297,485 |
| Net Assets | $297K |
| Transparency Score | 92/100 |
Is Lancaster County Virginia Education Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lancaster County Virginia Education Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lancaster County Virginia Education Foundation Inc
Lancaster County Virginia Education Foundation Inc (EIN: 113818945) is a nonprofit organization based in Kilmarnock, VA, classified under NTEE code B12. The organization reported total revenue of $330K and total assets of $511K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lancaster County Virginia Education Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lancaster County Virginia Education Foundation Inc is a small nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 22.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $167K |
| Total Expenses | $313K |
| Surplus / Deficit | $-145,819 |
| Total Assets | $297K |
| Net Assets | $297K |
| Operating Margin | -87.3% |
| Months of Reserves | 11.4 months |
Financial Health Grade: B
In 2023, Lancaster County Virginia Education Foundation Inc reported a deficit of $146K with expenses exceeding revenue, holds 11.4 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Lancaster County Virginia Education Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 22.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -54.6% | +102.0% | -32.9% |
| 2022 | +217.1% | +278.7% | +92.7% |
| 2021 | -31.2% | -68.7% | +48.6% |
| 2020 | -13.4% | -15.7% | +32.5% |
| 2019 | +10.9% | +6.0% | +51.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2008 |
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 Lancaster County Virginia Education Foundation Inc with a Mission Score of 92 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, Lancaster County Virginia Education Foundation 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $146K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is highly commendable for a nonprofit of its size with assets reaching $297,485 in 2023.
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 Lancaster County Virginia Education Foundation Inc's IRS 990 filings:
- Significant operating deficit in 2023 ($145,819) where expenses ($312,848) substantially exceeded revenue ($167,029).
Strengths
The following positive indicators were identified for Lancaster County Virginia Education Foundation Inc:
- Consistent reporting of 0% officer compensation across all filings, indicating volunteer leadership.
- Strong asset growth over the past decade, from $21,074 in 2014 to $297,485 in 2023.
- Consistently reports zero liabilities, demonstrating excellent financial solvency.
- Long history of consistent IRS 990 filings (13 filings), indicating strong transparency.
- High potential for program spending efficiency due to lack of executive compensation.
Frequently Asked Questions about Lancaster County Virginia Education Foundation Inc
Is Lancaster County Virginia Education Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lancaster County Virginia Education Foundation Inc (EIN: 113818945) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Lancaster County Virginia Education Foundation Inc spend its money?
Lancaster County Virginia Education Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lancaster County Virginia Education Foundation Inc tax-deductible?
Lancaster County Virginia Education Foundation Inc is registered as a tax-exempt nonprofit (EIN: 113818945). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Lancaster County Virginia Education Foundation Inc CEO make?
Lancaster County Virginia Education Foundation Inc's highest-compensated officer earns $297,485 annually. The organization reported $330K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Lancaster County Virginia Education Foundation Inc's spending goes to programs?
Lancaster County Virginia Education Foundation Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Lancaster County Virginia Education Foundation Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Lancaster County Virginia Education Foundation Inc is above average for NTEE category B12 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Lancaster County Virginia Education Foundation Inc located?
Lancaster County Virginia Education Foundation Inc is headquartered in Kilmarnock, Virginia and files with the IRS under EIN 113818945. It is classified under NTEE code B12.
How many years of IRS 990 filings does Lancaster County Virginia Education Foundation Inc have?
Lancaster County Virginia Education Foundation Inc 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 $330K in total revenue.
Is Lancaster County Virginia Education Foundation Inc. financially stable?
Yes, despite a deficit in 2023 where expenses ($312,848) exceeded revenue ($167,029), the organization has shown consistent asset growth over the past decade, reaching $297,485 in 2023, and consistently reports zero liabilities, indicating strong long-term financial stability.
How efficient is the organization's spending?
The organization appears highly efficient, primarily due to reporting 0% officer compensation across all filings, meaning all leadership is volunteer. This allows a greater proportion of funds to be directed towards program services.
What is the trend in the organization's assets?
The organization has demonstrated significant asset growth, increasing from $21,074 in 2014 to $297,485 in 2023, with a peak of $443,304 in 2022, indicating successful resource accumulation over time.
Why did expenses exceed revenue in 2023?
In 2023, expenses were $312,848 while revenue was $167,029, resulting in a deficit. Without further detail from the 990, it's unclear if this was a planned strategic investment, a one-time large program expenditure, or an operational challenge.
Filing History
IRS 990 filing history for Lancaster County Virginia Education Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Lancaster County Virginia Education Foundation Inc's revenue has grown by 1017.8%, moving from $15K to $167K. Total assets increased by 2813.7% over the same period, from $10K to $297K. Total functional expenses rose by 2873.8%, from $11K to $313K. In its most recent filing year (2023), Lancaster County Virginia Education Foundation Inc reported a deficit of $146K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $167K | $313K | $297K | $0 | — | View 990 |
| 2022 | $368K | $155K | $443K | $0 | — | — |
| 2021 | $116K | $41K | $230K | $0 | — | View 990 |
| 2020 | $169K | $131K | $155K | $0 | — | View 990 |
| 2019 | $195K | $155K | $117K | $0 | — | View 990 |
| 2018 | $176K | $146K | $77K | $0 | — | View 990 |
| 2017 | $109K | $96K | $48K | $0 | — | View 990 |
| 2016 | $105K | $96K | $34K | $0 | — | View 990 |
| 2015 | $62K | $59K | $25K | $0 | — | View 990 |
| 2014 | $48K | $43K | $21K | $0 | — | View 990 |
| 2013 | $20K | $18K | $15K | $0 | — | View 990 |
| 2012 | $22K | $20K | $13K | $0 | — | View 990 |
| 2011 | $15K | $11K | $10K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $167K, expenses of $313K, and assets of $297K (revenue -54.6% year-over-year).
- 2022: Revenue of $368K, expenses of $155K, and assets of $443K (revenue +217.1% year-over-year).
- 2021: Revenue of $116K, expenses of $41K, and assets of $230K (revenue -31.2% year-over-year).
- 2020: Revenue of $169K, expenses of $131K, and assets of $155K (revenue -13.4% year-over-year).
- 2019: Revenue of $195K, expenses of $155K, and assets of $117K (revenue +10.9% year-over-year).
- 2018: Revenue of $176K, expenses of $146K, and assets of $77K (revenue +60.5% year-over-year).
- 2017: Revenue of $109K, expenses of $96K, and assets of $48K (revenue +3.9% year-over-year).
- 2016: Revenue of $105K, expenses of $96K, and assets of $34K (revenue +68.8% year-over-year).
- 2015: Revenue of $62K, expenses of $59K, and assets of $25K (revenue +29.1% year-over-year).
- 2014: Revenue of $48K, expenses of $43K, and assets of $21K (revenue +137.8% year-over-year).
- 2013: Revenue of $20K, expenses of $18K, and assets of $15K (revenue -8.4% year-over-year).
- 2012: Revenue of $22K, expenses of $20K, and assets of $13K (revenue +48.5% year-over-year).
- 2011: Revenue of $15K, expenses of $11K, and assets of $10K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lancaster County Virginia Education Foundation Inc:
Data Sources and Methodology
This transparency report for Lancaster County Virginia Education Foundation 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.