Civic Intelligence

Lake Area Foundation Inc.

990 • Fiscal year 2018 • EIN 46-1333280

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 20, 2018

Organization ProfileWWW.LAKEAREAFOUNDATION.ORG
2384 Lakeway DriveRussell Springs, KY 42642

(270) 866-4200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

97th percentile

85%

Higher net margin than 97% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

88th percentile

48%

Faster asset growth than 88% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

90th percentile

74%

Faster revenue growth than 90% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets27th percentile

Assets

Up

$504,442

Up $164,174 (+48%) from 2017

Net Assets

Up

$504,442

Up $164,174 (+48%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin97th percentile

Revenue

Up

$193,833

Up $82,470 (+74%) from 2017

Expenses

Down

$29,659

Down $27,659 (-48%) from 2017

Net Income

Up

$164,174

Up $110,129 (+204%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth88th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2013: $65,794Liabilities 2013: $02013Assets 2014: $167,035Liabilities 2014: $02014Assets 2015: $237,843Liabilities 2015: $02015Assets 2016: $286,223Liabilities 2016: $02016Assets 2017: $340,268Liabilities 2017: $0Net Assets 2017: $340,2682017Assets 2018: $504,442Liabilities 2018: $0Net Assets 2018: $504,4422018Assets 2019: $620,960Liabilities 2019: $0Net Assets 2019: $620,9602019Assets 2020: $716,627Liabilities 2020: $0Net Assets 2020: $716,6272020Assets 2021: $1,064,586Liabilities 2021: $0Net Assets 2021: $1,064,5862021Assets 2022: $1,171,208Liabilities 2022: $0Net Assets 2022: $1,171,2082022Assets 2023: $1,281,905Liabilities 2023: $0Net Assets 2023: $1,281,9052023Assets 2024: $1,545,465Liabilities 2024: $0Net Assets 2024: $1,545,4652024Assets 2025: $1,657,505Liabilities 2025: $0Net Assets 2025: $1,657,5052025

Highlighted filing

2018

Assets$504,442
Liabilities$0
Net Assets$504,442
Open 2018 Filing

Operations Trend

Revenue Growth90th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0Revenue 2013: $90,258Expenses 2013: $24,464Net Income 2013: $65,7942013Revenue 2014: $145,063Expenses 2014: $43,822Net Income 2014: $101,2412014Revenue 2015: $87,254Expenses 2015: $16,446Net Income 2015: $70,8082015Revenue 2016: $90,797Expenses 2016: $42,417Net Income 2016: $48,3802016Revenue 2017: $111,363Expenses 2017: $57,318Net Income 2017: $54,0452017Revenue 2018: $193,833Expenses 2018: $29,659Net Income 2018: $164,1742018Revenue 2019: $86,800Expenses 2019: $16,398Net Income 2019: $70,4022019Revenue 2020: $111,004Expenses 2020: $27,939Net Income 2020: $83,0652020Revenue 2021: $219,552Expenses 2021: $23,567Net Income 2021: $195,9852021Revenue 2022: $278,017Expenses 2022: $47,016Net Income 2022: $231,0012022Revenue 2023: $67,903Expenses 2023: $35,871Net Income 2023: $32,0322023Revenue 2024: $217,134Expenses 2024: $45,106Net Income 2024: $172,0282024Revenue 2025: $172,881Expenses 2025: $159,845Net Income 2025: $13,0362025

Highlighted filing

2018

Revenue$193,833
Expenses$29,659
Net Income$164,174
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 20, 2018
Return Version
2017v2.3
Gross Receipts
$193,833
Mission and Program Overview

Mission

The mission of the organization is to encourage philanthropic giving by providing an accessible means for contributions to be made to permanent endowments that benefit charitable concerns related to community and economic development, education, health and human services, the arts, public recreation, and civic beautification.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$340,268$504,442▲ $164,174
Investments Other Securities$309,623$495,265▲ $185,642
Cash and Non-Interest-Bearing Accounts$30,645$9,177▼ $21,468
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$340,268$504,442▲ $164,174
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$340,268$504,442▲ $164,174
Total Liabilities and Net Assets / Fund Balance$340,268$504,442▲ $164,174

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$495,265--
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Joe WaltersPresident
Janet ClarkVice President
Bill NorrisDirector
John PhelpsDirector
Shan FordDirector
Sharon PayneDirector
Winter HuffSecretary
Anita TuckerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$171,248
Program Service Revenue
$0
Investment Income
$22,585
Other Revenue
$0
All Other Contributions
$171,248
Change in Net Assets
$164,174

Audited Revenue Reconciliation

Revenue per Audited Statements
$193,833
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$193,833
Total Revenue per Form 990
$193,833
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$19,159
Grants and Similar Amounts Paid$10,500
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses-$19,159-$19,159
Grants to Domestic Individuals$10,500--$10,500
Total Functional Expenses$10,500$19,159$0$29,659

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$29,659
Total Expenses per Audited Statements$29,659
Total Expenses per Form 990$29,659
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Secretary signs and board approvs”

Form 990, Part VI, Section C, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Lake Area Foundation Inc
EIN
46-1333280
Phone
2708664200
Address
2384 LAKEWAY DRIVE, RUSSELL SPRINGS, KY 42642

Signing Officer

Name
Joe Walters
Title
Chair
Phone
2708664200
Signed
2018-11-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joe Walters
Formed
2012
Legal Domicile
Ky
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
0

Preparer

Firm
Campbell Myers & Rutledge Pllc
Address
410 SOUTH BROADWAY, GLASGOW, KY 42141
Preparer
Robert Van Shepard
Phone
2706512163
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0340268
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0504442
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02384 LAKEWAY DR
IRS990/USAddress/CityNm0RUSSELL SPRINGS
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd042642
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.LAKEAREAFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOE WALTERS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum02708664200
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAKE AREA FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0LAKE
ReturnHeader/Filer/EIN0461333280
ReturnHeader/Filer/PhoneNum02708664200
ReturnHeader/Filer/USAddress/AddressLine1Txt02384 LAKEWAY DRIVE
ReturnHeader/Filer/USAddress/CityNm0RUSSELL SPRINGS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd042642
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0762BF20CBC7167A16929881F96FF148CAEDAB609
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0762BF20CBC7167A16929881F96FF148CAEDAB609
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt096.31.58.195
ReturnHeader/FilingSecurityInformation/IPDt02018-11-20
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm008:18:38
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0610975454
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CAMPBELL MYERS & RUTLEDGE PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0410 SOUTH BROADWAY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLASGOW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd042141
ReturnHeader/PreparerPersonGrp/PhoneNum02706512163
ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT VAN SHEPARD
ReturnHeader/ReturnTs02018-12-06T15:41:45-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$504,442
Liabilities
$0
Net assets
$504,442
Revenue
$193,833
Expenses
$29,659
Net income
$164,174
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.66$0.00$1.66$0.17$0.16$0.01
2024Detailed filing. Detailed filing data is available for this year.$1.55$0.00$1.55$0.22$0.05$0.17
2023Detailed filing. Detailed filing data is available for this year.$1.28$0.00$1.28$0.07$0.04$0.03
2022Detailed filing. Detailed filing data is available for this year.$1.17$0.00$1.17$0.28$0.05$0.23
2021Detailed filing. Detailed filing data is available for this year.$1.06$0.00$1.06$0.22$0.02$0.20
2020Detailed filing. Detailed filing data is available for this year.$0.72$0.00$0.72$0.11$0.03$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.62$0.00$0.62$0.09$0.02$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.50$0.00$0.50$0.19$0.03$0.16
2017Detailed filing. Detailed filing data is available for this year.$0.34$0.00$0.34$0.11$0.06$0.05
2016Summary only. Only limited summary data is available for this year.$0.29$0.00$0.09$0.04$0.05
2015Summary only. Only limited summary data is available for this year.$0.24$0.00$0.09$0.02$0.07
2014Summary only. Only limited summary data is available for this year.$0.17$0.00$0.15$0.04$0.10
2013Summary only. Only limited summary data is available for this year.$0.07$0.00$0.09$0.02$0.07