Lobster Cove Foundation Tr
Lobster Cove Foundation Tr shows highly volatile revenue and expenses with no reported officer compensation.
EIN: 137371039 · Atlanta, GA · NTEE: T20 · Updated: 2026-03-28
Is Lobster Cove Foundation Tr Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lobster Cove Foundation Tr directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lobster Cove Foundation Tr
Lobster Cove Foundation Tr (EIN: 137371039) is a nonprofit organization based in Atlanta, GA, classified under NTEE code T20. The organization reported total revenue of $1.0M and total assets of $528K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lobster Cove Foundation Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lobster Cove Foundation Tr is a mid-size nonprofit that has been operating for 23 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 27.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $34K |
| Total Expenses | $37K |
| Surplus / Deficit | $-2,759 |
| Total Assets | $49K |
| Total Liabilities | $1 |
| Net Assets | $49K |
| Operating Margin | -8.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 16.0 months |
Financial Health Grade: B
In 2023, Lobster Cove Foundation Tr reported a deficit of $3K with expenses exceeding revenue, holds 16.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Lobster Cove Foundation Tr's revenue has grown at a compound annual growth rate (CAGR) of 27.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -87.7% | -51.7% | -5.5% |
| 2022 | +176.3% | +38.4% | +10.1% |
| 2021 | -0.8% | +24.4% | -53.1% |
| 2020 | +913.4% | +59.4% | -29.7% |
| 2019 | -79.2% | -37.7% | +513.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
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 Lobster Cove Foundation Tr 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: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Lobster Cove Foundation Tr allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% 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 $3K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all ten filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not classified as officer compensation, which is unusual for an organization with over $1 million in latest reported revenue.
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 Lobster Cove Foundation Tr's IRS 990 filings:
- Highly inconsistent revenue and expense patterns across filings, making financial forecasting difficult.
- Latest filing (202312) shows expenses ($36,918) exceeding revenue ($34,159), indicating a deficit for that period.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data, hindering efficiency analysis.
Strengths
The following positive indicators were identified for Lobster Cove Foundation Tr:
- Consistently reports 0% officer compensation, suggesting a lean administrative structure or volunteer leadership.
- Maintains minimal liabilities ($1) across all reported periods, indicating low debt burden.
- Consistent filing of IRS Form 990s, demonstrating a commitment to transparency in reporting.
Frequently Asked Questions about Lobster Cove Foundation Tr
Is Lobster Cove Foundation Tr a legitimate charity?
Based on AI analysis of IRS 990 filings, Lobster Cove Foundation Tr (EIN: 137371039) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Lobster Cove Foundation Tr spend its money?
Lobster Cove Foundation Tr directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lobster Cove Foundation Tr tax-deductible?
Lobster Cove Foundation Tr is registered as a tax-exempt nonprofit (EIN: 137371039). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the significant fluctuations in revenue and expenses over the years?
The provided data shows revenue ranging from $39 (201412) to $278,219 (202212) and expenses from $7,535 (201412) to $76,475 (202212) in the historical filings, with the latest reported revenue being $1,000,436. Understanding the underlying reasons for these dramatic shifts is crucial for assessing financial stability.
How does Lobster Cove Foundation Tr allocate its expenses between program services, administration, and fundraising?
Without a detailed breakdown of expenses beyond total expenses, it's challenging to determine the organization's spending efficiency and how much directly supports its mission. The provided data only gives total expenses for each period.
What is the nature of the organization's programs given its NTEE code T20 (Philanthropy, Voluntarism & Grantmaking Foundations)?
Understanding the specific activities and impact of the programs would provide context for the financial data and help evaluate the effectiveness of the organization's spending.
Filing History
IRS 990 filing history for Lobster Cove Foundation Tr showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Lobster Cove Foundation Tr's revenue has grown by 1816.9%, moving from $2K to $34K. Total assets increased by 62.1% over the same period, from $30K to $49K. Total functional expenses fell by 23.9%, from $49K to $37K. In its most recent filing year (2023), Lobster Cove Foundation Tr reported a deficit of $3K, with expenses exceeding revenue. The organization holds $1 in liabilities against $49K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $49K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $34K | $37K | $49K | $1 | — | View 990 |
| 2022 | $278K | $76K | $52K | $1 | — | View 990 |
| 2021 | $101K | $55K | $47K | $1 | — | View 990 |
| 2020 | $101K | $44K | $101K | $1 | — | View 990 |
| 2019 | $10K | $28K | $144K | $1 | — | View 990 |
| 2015 | $48K | $45K | $23K | $1 | — | View 990 |
| 2014 | $39 | $8K | $20K | $1 | — | View 990 |
| 2013 | $66K | $56K | $28K | $1 | — | View 990 |
| 2012 | $489 | $14K | $17K | $1 | — | View 990 |
| 2011 | $2K | $49K | $30K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $34K, expenses of $37K, and assets of $49K (revenue -87.7% year-over-year).
- 2022: Revenue of $278K, expenses of $76K, and assets of $52K (revenue +176.3% year-over-year).
- 2021: Revenue of $101K, expenses of $55K, and assets of $47K (revenue -0.8% year-over-year).
- 2020: Revenue of $101K, expenses of $44K, and assets of $101K (revenue +913.4% year-over-year).
- 2019: Revenue of $10K, expenses of $28K, and assets of $144K (revenue -79.2% year-over-year).
- 2015: Revenue of $48K, expenses of $45K, and assets of $23K (revenue +123230.8% year-over-year).
- 2014: Revenue of $39, expenses of $8K, and assets of $20K (revenue -99.9% year-over-year).
- 2013: Revenue of $66K, expenses of $56K, and assets of $28K (revenue +13428.6% year-over-year).
- 2012: Revenue of $489, expenses of $14K, and assets of $17K (revenue -72.6% year-over-year).
- 2011: Revenue of $2K, expenses of $49K, and assets of $30K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lobster Cove Foundation Tr:
Data Sources and Methodology
This transparency report for Lobster Cove Foundation Tr 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.