LAGS RECOVERY CENTERS INC JEREMY W FAITH CHAPTER 7 TRUSTEE

EIN: 813512746 501(c)(3)

ENCINO, CA

Total Revenue
$135,975
Total Expenses
$53,503
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
CA
Principal Officer
JEREMY W FAITH
Phone
8187052777
Tax Period
2025-01-01 to 2025-12-31

LAGS RECOVERY CENTERS INC JEREMY W FAITH CHAPTER 7 TRUSTEE, founded in 2016, is a small nonprofit that reported $136K in total revenue in fiscal year 2025. The organization ran a surplus of $82K, a strong 61% operating margin.

Mission

LAGS RECOVERY CENTERS WAS A PROVIDER OF SUBSTANCE ABUSE AND MENTAL HEALTH TREATEMENT. THE ORGANIZATION CEASED OPERATIONS AND FILED FOR CHAPTER 7 BANKRUPCY ON AUGUST 16, 2024 (CASE NO. 9:24-BK-10937-RC).

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Trantor Score

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

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

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $-406,934
Other Revenue $542,909
TOTAL REVENUE $135,975

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $53,503
TOTAL EXPENSES $53,503

Year-over-Year Comparison

2025 2024 Change
Revenue $135,975 N/A N/A
Expenses $53,503 N/A N/A
Net Income $82,472 $0 N/A
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

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

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Governance

Voting Members
1
Independent Members
1
Employees
N/A
Volunteers
N/A

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
0
$0
Total Directors
1
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FRANCIS P LAQATTUTA II PRESIDENT 0.00
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
2025 $135,975 $53,503 No data $82,472
2024 No data No data No data No data
2023 $3,911,508 $3,817,803 $647,998 $93,705
2022 $4,104,504 $3,803,266 $1,141,604 $301,238
2021 $658,275 $818,038 $148,296 $-159,763
2020 No data $1,005 $2,729 No data
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