Lake Area Foundation Inc in Russell Spgs, Kentucky (KY)

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Lake Area Foundation Inc
Employer Identification Number (EIN)461333280
Name of OrganizationLake Area Foundation Inc
In Care of NameDonna Diaz
Address2384 Lakeway Dr, Russell Spgs, KY 42642-4509
SubsectionCharitable Organization
Ruling Date02/2014
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$100,000 to $499,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$167,035
Amount of Income$145,063
Form 990 Revenue Amount$145,063
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations


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Amount of income in 2014: $145,063 (it was $90,258 in 2013)
Lake Area Foundation Inc: 

 $145,063
Other organizations performing similar types of work: 

 $123,400

Assets in 2014: $167,035 (it was $65,794 in 2013)
This organization: 

 $167,035
Other organizations performing similar types of work: 

 $188,019

Expenses in 2014: $43,822
Lake Area Foundation Inc: 

 $43,822
Other organizations performing similar types of work: 

 $82,376

Income to expenses ratio in 2014: 3.3
This organization: 

 3.3
Other organizations performing similar types of work: 

 5.6

Grants share in income in 2014: 97.4%
Lake Area Foundation Inc: 

 97.4%
Other organizations performing similar types of work: 

 20.2%

Financial snapshot ($)

Revenue for 2014

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20132014
Total revenue$90,258$145,063
Contributions, gifts, grants, and similar amounts received$90,206$141,307
Program service revenue including government fees and contracts$0$0
Membership dues and assessments$0$0
Investment income$52$93
Gain/Loss from sale of assets other than inventory$0$0
Net income/loss from gaming and fundraising events$0$0
Gross profit/loss from sales of inventory$0$0
Other revenue$0$3,663
Total expenses$24,464$43,822
Total net assets$65,794$167,035
Excess/Deficit for the year$65,794$101,241
Net assets or fund balances at beginning of year$0$65,794
Other changes in net assets or fund balances$0$0
Net assets or fund balances at end of year$65,794$167,035
Balance Sheets
20132014
Total assets$65,794$167,035
Total liabilities$0$0
Net assets or fund balances$65,794$167,035
Other Information
20132014
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?NoNo
Total amount involved$0$0
Initiation fees and capital contributions$0$0
Gross receipts for public use of club facilities$0$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2014)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010 - 2014)
2010 - 2014 Total
Public Support$231,513
Subtotal Support$231,513
Gifts, grants, contributions, and membership fees received$231,513
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$0
Total Support$235,321
Public Support$231,513
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$154
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$3,663
Gross receipts from related activities, etc.$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1The Taos Community Foundation IncPO BOX 1925, Taos, NM 87571-1925NM1998-12$4,057,729
2Community Foundation Of West Kentucky Inc333 Broadway St Ste 615, Paducah, KY 42001-0720KY1996-08$1,309,760
3Public Life Foundation Of Owensboro Inc401 Frederica Street Bldg B 203, Owensboro, KY 42301-6297KY1996-04$8,409,058
4Mulhollem Cravens FoundationPO BOX 192, Carlisle, KY 40311-0192KY2006-10$1,151,184
5Community Foundation Of South Central Kentucky IncPO BOX 737, Bowling Green, KY 42102-0737KY1996-01$952,778
6Lake Area Foundation Inc2384 Lakeway Dr, Russell Spgs, KY 42642-4509KY2014-02$145,063
7Kiwanis Club Of Hopkinsville Kentucky FoundationPo Box 470, Hopkinsville, KY 42241-0470KY2010-08$95,055
8Derrick Johnsons Defend The Dream Foundation59 Cavalier Blvd Ste 310, Florence, KY 41042-3902KY2014-07$83,065
9United Community Fund Of Cynthiana And Harrison County KentuckyPO BOX 194, Cynthiana, KY 41031-0194KY2006-11$61,268
10Friends Of Esquipulas Inc1226 W Oak St, Louisville, KY 40210-1533KY2012-04$54,210
11Andrew M Wagner Foundation Inc15015 Bircham Rd, Louisville, KY 40245-4103KY2009-06$16,667
12Photizo Foundation IncPO BOX 4160, Midway, KY 40347-4160KY2012-09$1,050
13Ashland Association Of Life Underwriters Commuty Char Fund IncPO BOX 870, Ashland, KY 41105-0870KY1998-04$0
14Brothers Of The WindPo Box 1313, Jenkins, KY 41537KY2007-01$0
15Calloway County Extension Homemakers Association310 South 4th Street, Murray, KY 42071KY2011-01$0
16Community Foundation Of Letcher County353 Main St, Whitesburg, KY 41858-7316KY2013-01$0
17Friends Of Wesley In Kentucky512 Southbend Dr, Lexington, KY 40503KY2010-02$0
18Louisville African American Think Tank515 South 34th St, Louisville, KY 40211KY2004-10$0
19Louisville-Events Inc401 West Main Street Suite 2200, Louisville, KY 40202KY2013-09$0
20Sacramento Temple Association IncPo Box 365, Sacramento, KY 42372KY2011-08$0
Number of organizations performing similar types of work
Alaska10
Alabama42
Arkansas20
Arizona50
California335
Colorado77
Connecticut51
District of Columbia21
Delaware7
Florida144
Georgia79
Hawaii16
Iowa86
Idaho15
Illinois129
Indiana75
Kansas52
Kentucky26
Louisiana25
Massachusetts83
Maryland76
Maine16
Michigan126
Minnesota62
Missouri48
Mississippi28
Montana45
North Carolina78
North Dakota10
Nebraska44
New Hampshire13
New Jersey99
New Mexico20
Nevada22
New York174
Ohio132
Oklahoma33
Oregon58
Pennsylvania123
Rhode Island20
South Carolina36
South Dakota9
Tennessee37
Texas194
Utah27
Virginia70
Vermont13
Washington71
Wisconsin83
West Virginia22
Wyoming12
International7
Total3,151

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