Civic Intelligence

Lake Serenity Inc

EIN 26-1473192 • 501(c)3 • Germantown, TN

Profile

Provides housing to low income elderly persons under section 202 of the national housing act under agreement with the department of hud.

2171 Judicial Drive Rm/Ste 200Germantown, TN 38138

lakeserenity.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

32nd percentile

0.01x

Higher debt load relative to assets than 32% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

54th percentile

0.10x

Higher debt load relative to revenue than 54% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

9th percentile

-34%

Higher net margin than 9% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

24th percentile

-4.7%

Faster asset growth than 24% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

48th percentile

6.3%

Faster revenue growth than 48% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Down

$1,683,340

Down $83,615 (-4.7%) from 2024

Liabilities

Down

$16,741

Down $24,650 (-60%) from 2024

Net Assets

Down

$1,666,599

Down $58,965 (-3.4%) from 2024

Operations
Liabilities / Revenue54th percentileNet Margin9th percentile

Revenue

Up

$175,653

Up $10,357 (+6.3%) from 2024

Expenses

Down

$234,618

Down $10,999 (-4.5%) from 2024

Net Income

Up

-$58,965

Up $21,356 (+27%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth24th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2019: $2,070,228Liabilities 2019: $63,739Net Assets 2019: $2,006,4892019Assets 2020: $1,978,784Liabilities 2020: $16,445Net Assets 2020: $1,962,3392020Assets 2021: $1,949,797Liabilities 2021: $30,018Net Assets 2021: $1,919,7792021Assets 2022: $1,888,518Liabilities 2022: $13,324Net Assets 2022: $1,875,1942022Assets 2023: $1,829,171Liabilities 2023: $23,286Net Assets 2023: $1,805,8852023Assets 2024: $1,766,955Liabilities 2024: $41,391Net Assets 2024: $1,725,5642024Assets 2025: $1,683,340Liabilities 2025: $16,741Net Assets 2025: $1,666,5992025

Highlighted filing

2025

Assets$1,683,340
Liabilities$16,741
Net Assets$1,666,599
Open 2025 Filing

Operations Trend

Revenue Growth48th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0-$100KRevenue 2019: $133,941Expenses 2019: $190,010Net Income 2019: -$56,0692019Revenue 2020: $135,748Expenses 2020: $179,898Net Income 2020: -$44,1502020Revenue 2021: $133,262Expenses 2021: $175,822Net Income 2021: -$42,5602021Revenue 2022: $138,364Expenses 2022: $182,949Net Income 2022: -$44,5852022Revenue 2023: $141,504Expenses 2023: $210,813Net Income 2023: -$69,3092023Revenue 2024: $165,296Expenses 2024: $245,617Net Income 2024: -$80,3212024Revenue 2025: $175,653Expenses 2025: $234,618Net Income 2025: -$58,9652025

Highlighted filing

2025

Revenue$175,653
Expenses$234,618
Net Income-$58,965
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,683,340
Liabilities
$16,741
Net assets
$1,666,599
Revenue
$175,653
Expenses
$234,618
Net income
-$58,965
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$0.02$1.67$0.18$0.23$0.06
2024Detailed filing. Detailed filing data is available for this year.$1.77$0.04$1.73$0.17$0.25$0.08
2023Detailed filing. Detailed filing data is available for this year.$1.83$0.02$1.81$0.14$0.21$0.07
2022Detailed filing. Detailed filing data is available for this year.$1.89$0.01$1.88$0.14$0.18$0.04
2021Detailed filing. Detailed filing data is available for this year.$1.95$0.03$1.92$0.13$0.18$0.04
2020Detailed filing. Detailed filing data is available for this year.$1.98$0.02$1.96$0.14$0.18$0.04
2019Detailed filing. Detailed filing data is available for this year.$2.07$0.06$2.01$0.13$0.19$0.06
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Sep 6, 2025
Return Version
2024v5.0
Gross Receipts
$175,653
Mission and Program Overview

Mission

Provides housing to low income elderly persons under section 202 of the national housing act under agreement with the department of hud.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,631,758$1,567,991▼ $63,767
Prepaid Expenses and Deferred Charges$30,793$29,367▼ $1,426
Accounts Receivable$4,413$25,534▲ $21,121
Cash and Non-Interest-Bearing Accounts$8,187$2,050▼ $6,137
Total Assets$1,766,955$1,683,340▼ $83,615
Other Assets Total$91,804$58,398▼ $33,406
Liabilities
Accounts Payable and Accrued Expenses$32,988$8,256▼ $24,732
Other Liabilities$5,814$6,221▲ $407
Deferred Revenue$2,589$2,264▼ $325
Total Liabilities$41,391$16,741▼ $24,650
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,401,447$2,401,447→ $0
Net Assets Without Donor Restrictions$-675,883$-734,848▼ $58,965
Total Net Assets Fund Balance$1,725,564$1,666,599▼ $58,965
Total Liabilities and Net Assets / Fund Balance$1,766,955$1,683,340▼ $83,615

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,471,875$823,803$2,295,678
Other Land Buildings$46,116$85,162$131,278
Land$50,000-$50,000
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Millicent BinghamPresident
Ola JamesBoard Member
Russell JohnsonBoard Member
Jesse Horton SrCEO
Clifford ArdSecretary
Cynthia YoungbloodTreasurer
Diana ThorntonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$173,006
Investment Income
$2,647
Other Revenue
$0
Change in Net Assets
$-58,965

Audited Revenue Reconciliation

Revenue per Audited Statements
$175,653
Total Revenue per Audited Statements
$175,653
Total Revenue per Form 990
$175,653
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$213,050
Salaries, Compensation, and Employee Benefits$21,568
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$67,685--$67,685
Depreciation Depletion$63,767--$63,767
Fees for Services Management-$17,535-$17,535
Other Salaries and Wages$15,426--$15,426
Office Expenses$12,377--$12,377
Fees for Services Accounting-$7,029-$7,029
Other Employee Benefits$4,962--$4,962
Conferences and Meetings-$1,653-$1,653
Payroll Taxes$1,180--$1,180
Insurance$1,144--$1,144
Advertising$837--$837
Other Expenses$563--$563
Fees for Services Legal-$130-$130
Total Functional Expenses$208,271$26,347$0$234,618

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$234,618
Total Expenses per Audited Statements$234,618
Total Expenses per Form 990$234,618
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits Held in Tru$6,221
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Tesco properties, inc. Is the management agent.”

Form 990, Page 6, Part VI, Line 11B

“All members of the board of directors has the opportunity to review the form 990 before it is filed with the irs.”

Form 990, Page 6, Part VI, Line 12C

“Information regarding the conflict of interest policy can be obtained at t he following address: 2171 judicial dr., suite 200 germantown, tn 38138”

Form 990, Page 6, Part VI, Line 19

“Available at the office of the managing agent: 2171 judicial dr., suite 200 germantown, tn 38138”

Filing and Contact Details

Filer

Filer Name
Lake Serenity Inc
EIN
26-1473192
Phone
9017597284
Address
2171 JUDICIAL DRIVE RM/STE 200, GERMANTOWN, TN 38138

Signing Officer

Name
Millicent Bingham
Title
President
Phone
9017597284
Signed
2025-09-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Millicent Bingham
Formed
2007
Legal Domicile
Ms
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Maddox & Associates Apc
Address
5627 BANKERS AVE BLDG 2, BATON ROUGE, LA 70808-2610
Preparer
William B Beale
Phone
2259263360
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0224
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt022
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt077
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt06524
IRS990ScheduleA/InvestmentIncomeCYPct00.01000
IRS990ScheduleA/InvestmentIncomePYPct00.01000
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt07280
IRS990ScheduleA/OtherIncome509Grp/TotalAmt07280
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98170
IRS990ScheduleA/PublicSupportPY509Pct00.98420
IRS990ScheduleA/PublicSupportTotal509Amt0740275
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0173006
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0161742
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0141280
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0131062
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0133185
IRS990ScheduleA/Total509Grp/TotalAmt0740275
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0175653
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0165296
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0141504
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0138364
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0133262
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0754079
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01471875
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0823803
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02295678
IRS990ScheduleD/ExpensesSubtotalAmt0234618
IRS990ScheduleD/LandGrp/BookValueAmt050000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt050000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt046116
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt085162
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0131278
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06221
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS HELD IN TRU
IRS990ScheduleD/RevenueSubtotalAmt0175653
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01567991
IRS990ScheduleD/TotalExpensesPerForm990Amt0234618
IRS990ScheduleD/TotalLiabilityAmt06221
IRS990ScheduleD/TotalRevenuePerForm990Amt0175653
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0175653
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0234618
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TESCO PROPERTIES, INC. IS THE MANAGEMENT AGENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL MEMBERS OF THE BOARD OF DIRECTORS HAS THE OPPORTUNITY TO REVIEW THE FORM 990 BEFORE IT IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2INFORMATION REGARDING THE CONFLICT OF INTEREST POLICY CAN BE OBTAINED AT T HE FOLLOWING ADDRESS: 2171 JUDICIAL DR., SUITE 200 GERMANTOWN, TN 38138
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE AT THE OFFICE OF THE MANAGING AGENT: 2171 JUDICIAL DR., SUITE 200 GERMANTOWN, TN 38138
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01766955
IRS990/TotalAssetsEOYAmt01683340
IRS990/TotalAssetsGrp/BOYAmt01766955
IRS990/TotalAssetsGrp/EOYAmt01683340
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt026347
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0208271
IRS990/TotalFunctionalExpensesGrp/TotalAmt0234618
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt041391
IRS990/TotalLiabilitiesEOYAmt016741
IRS990/TotalLiabilitiesGrp/BOYAmt041391
IRS990/TotalLiabilitiesGrp/EOYAmt016741
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01725564
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01666599
IRS990/TotalProgramServiceExpensesAmt0208271
IRS990/TotalProgramServiceRevenueAmt0173006
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0175653
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0175653
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01766955
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01683340
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02171 JUDICIAL DRIVE SUITE 200
IRS990/USAddress/CityNm0GERMANTOWN
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038138
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0HTTPS://LAKESERENITY.COM/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MILLICENT BINGHAM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09017597284
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-09-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAKE SERENITY INC
ReturnHeader/Filer/BusinessNameControlTxt0LAKE
ReturnHeader/Filer/EIN0261473192
ReturnHeader/Filer/PhoneNum09017597284
ReturnHeader/Filer/USAddress/AddressLine1Txt02171 JUDICIAL DRIVE RM/STE 200
ReturnHeader/Filer/USAddress/CityNm0GERMANTOWN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd038138
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0721314069
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MADDOX & ASSOCIATES APC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05627 BANKERS AVE BLDG 2
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BATON ROUGE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0LA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0708082610
ReturnHeader/PreparerPersonGrp/PhoneNum02259263360
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WILLIAM B BEALE
ReturnHeader/ReturnTs02025-11-01T09:05:46-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

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