LAKE SUMMIT FOUNDATION INC (EIN 581727959) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2008

Legal Domicile

Principal Officer

JOYCE BIDDIX

Phone

8287078227

Tax Period

2023-01-01 to 2023-12-31

LAKE SUMMIT FOUNDATION INC, founded in 2008, is a small nonprofit that reported $172K in total revenue in fiscal year 2023. Revenue fell 51% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $68K, a strong 40% operating margin.

Mission

CONTRIBUTIONS FOR EDUCATION AND CONSERVATION AND SUPPORT THE ADMINISTRATION AND OPERATION OF A PUBLIC PARK.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $94,633

Program Service Revenue $0

Investment Income $18,339

Other Revenue $59,188

TOTAL REVENUE $172,160

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $87,935

Other Expenses $103,992

TOTAL EXPENSES $103,992

Year-over-Year Comparison

	2023	2022	Change
Revenue	$172,160	$351,179	-0.5%
Expenses	$103,992	$89,301	+0.2%
Net Income	$68,168	$261,878	-0.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$24,765

Total Directors

$24,765

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DIANE TRIPLITT	PRESIDENT	3.00	Officer Director	$0	$0	$0
JOYCE BIDDIX	SECRETARY	3.00	Officer Director	$24,765	$0	$24,765
TED GAGE	TREASURER	3.00	Officer Director	$0	$0	$0
FRANK D BELL JR	LIFETIME MEM	1.00	Director	$0	$0	$0
KATIE MILLER-GRANT	LIFETIME MEM	1.00	Director	$0	$0	$0
WALTER MONTGOMERY JR	LIFETIME MEM	1.00	Director	$0	$0	$0
LEE ARNETT	DIRECTOR	1.00	Director	$0	$0	$0
CAM BOYD	DIRECTOR	1.00	Director	$0	$0	$0
LILLIAN LILLY	DIRECTOR	1.00	Director	$0	$0	$0
STANFORD MCMILLAN	DIRECTOR	1.00	Director	$0	$0	$0
JOY OATES	DIRECTOR	1.00	Director	$0	$0	$0
KIM O'NEALL	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$172,160	$103,992	$2,160,950	$68,168
2022	$351,179	$89,301	$2,029,291	$261,878
2021	$957,445	$80,932	$1,873,874	$876,513
2020	$127,073	$106,119	$919,706	$20,954
2019	$96,420	$555,261	$550,116	$-458,841
2018	$59,670	$67,573	$939,226	$-7,903

LAKE SUMMIT FOUNDATION INC