Lake Area Foundation Inc

Organization Overview

Lake Area Foundation Inc is located in Russell Springs, KY. The organization was established in 2014. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Area Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2024, Lake Area Foundation Inc generated $217.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $45.1k during the year ending 06/2024. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2024

Describe the Organization's Mission:

Part 3 - Line 1

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.

Describe the Organization's Program Activity:

Part 3 - Line 4a

FOR THE BENEFIT OF COMMUNITY AND ECONOMIC DEVELOPMENT, EDUCATION, HEALTH AND HUMAN SERVICES, THE ARTS, PUBLIC RECREATION, AND CIVIC BEAUTIFICATION


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Board, Officers & Key Employees

Name (title)Compensation
Matthew Hopper
President
$0
Josh Myers
Secretary
$0
Sharon Payne
Vice President
$0
Linda Stephens
Treasurer
$0
Sharon Payne
Director
$0
Kenny Ramsey
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$174,118
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$174,118
Total Program Service Revenue$0
Investment income $43,016
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $217,134

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