Lake Foundation in Atlanta, Georgia (GA)

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Lake Foundation
Employer Identification Number (EIN)586322841
Name of OrganizationLake Foundation
Address1766 Ponce De Leon Ave Ne, Atlanta, GA 30307-1736
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date08/1996
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationTrust
Tax Period12/2010
Assets$100,000 to $499,999
Income$1 to $9,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$170,920
Amount of Income$1,301
Form 990 Revenue Amount$1,301
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2010: $1,301 (it was $1,252 in 2009)
Lake Foundation: 

 $1,301
Other organizations performing similar types of work: 

 $120,160

Assets in 2010: $170,920 (it was $119,227 in 2009)
Lake Foundation: 

 $170,920
Other organizations performing similar types of work: 

 $450,518

Expenses in 2010: $21,230
This organization: 

 $21,230
Other organizations performing similar types of work: 

 $61,287

Income to expenses ratio in 2010: 0.1
Lake Foundation: 

 0.1
Other organizations performing similar types of work: 

 7.3

Grants share in income in 2010: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 8.9%

Financial snapshot ($)

Expenses for 2010

Analysis of Revenue and Expenses (for 2010)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$1,301$1,301$1,301
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$1,301
Dividends and interest from securities$0
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$21,230$0$0$6,000
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$15,230$0$0
Contributions, gifts, grants paid$6,000
Excess of revenue over expenses and disbursements$-19,929
Net investment income$1,301
Adjusted net income$1,301
Balance Sheets (for 2010)
Book ValueFair Market Value
Total assets$170,920$170,920
Cash - non-interest-bearing$170,920
Investments-U.S. and state government obligations$0
Investments-corporate stock$0
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$0
Total liabilities$71,622
Mortgages and other notes payable$0
Other$71,622
Total liabilities and net assets/fund balances$99,298
Capital Gains and Losses for Tax on Investment Income (for 2010)
Capital gain net income$0
Net capital loss$0
Excise Tax Based on Investment Income (for 2010)
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)No
Tax based on investment income$26
Total credits and payments$0
Any penalty for underpayment of estimated tax$0
Tax due$26
Amount to be credited to 2011 estimated tax$0
Statements Regarding Activities (for 2010)
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign?No
Was there a liquidation, termination, dissolution, or substantial contraction during the year?No
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2010 or the taxable year beginning in 2010?No
Statements Regarding Activities for Which Form 4720 May Be Required (for 2010)
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?No
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?No
Furnish goods, services, or facilities to (or accept them from) a disqualified person?No
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?No
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?No
Agree to pay money or property to a government official?No
At the end of tax year 2010, did the foundation have any undistributed income for tax year(s) beginning before 2010?No
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?No
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?No
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?No
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?No
Provide a grant to an individual for travel, study, or other similar purposes?No
Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)?No
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?No
Minimum Investment Return (for 2010)
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$181,013
Net value of noncharitable-use assets$178,300
Minimum investment return$8,915
Distributable Amount (for 2010)
Distributable amount$8,889
Undistributed Income (for 2010)
Distributable amount for 2010$8,889
Undistributed income for 2010. This amount must be distributed in 2011$7,032
Private Operating Foundations (for 2010)
2010200920082007Total
The lesser of the adjusted net income or the minimum investment return$0$0$0$0$0
Qualifying distributions made directly for active conduct of exempt activities$0$0$0$0$0
Value of all assets$0$0$0$0$0
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$0$0$0$0$0
Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties)$0$0$0$0$0
Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)$0$0$0$0$0
Gross investment income$0$0$0$0$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1University System Of Georgia Foundation Inc270 Washington St Sw Fl 7, Atlanta, GA 30334-9009GA1997-04$20,049,164
2Storey Foundation Inc3531 Walton Way, Augusta, GA 30909-1821GA1998-05$4,297,824
3Shannon Foundation Inc104 Colony Park Dr Ste 100, Cumming, GA 30040-2772GA1997-05$2,300,276
4William R & Sara Babb Smith Foundation, Smith William R Etal TteePO BOX 2000, Mcdonough, GA 30253-1720GA1995-07$825,695
5The Harry And Caroline Gilham Charitable Foundation106 Camden Rd Ne, Atlanta, GA 30309-1510GA1997-07$800,678
6Somerset Foundation IncTower Place 100 Suite 1775, Atlanta, GA 30326-1000GA1998-04$725,464
7The Conardt Charitable Trust C/O Eve F Eckardt720 Whitemere Ct Nw, Atlanta, GA 30327-3449GA1997-06$423,723
8Thomasville Cultural Center Endowment Trust, Allen M H TteePO BOX 2177, Thomasville, GA 31799-2177GA1997-07$374,615
9Sf Foundation Ii, Sadler Phillip Eugene TteePO BOX 88482, Atlanta, GA 30356-8482GA1998-02$285,210
10William D & Louise H Owens Charitable Tr Dated 011697, Jones David G Ttee2166 Basque Dr Se, Smyrna, GA 30080-6509GA1997-04$261,696
11Scalley Family Foundation, Scalley John J30 Quarry Lake Ct Ne, Atlanta, GA 30342-1965GA1997-01$129,300
12The@robert C Balfour Iii And Virginia F Balfour FoundationPO BOX 2627, Thomasville, GA 31799-2627GA1998-08$96,842
13Vaughn Family Foundation Inc2146 Miller Chapel Rd Se, Conyers, GA 30094-2004GA1997-08$87,577
14The Ruffwood Foundation1425 N Harris Rdg Nw, Atlanta, GA 30327-4423GA1997-08$81,822
15Seda Vale Foundation IncPO BOX 8088, Atlanta, GA 31106-0088GA1997-09$67,414
16Strong Tower IncPO BOX 56, Hinesville, GA 31310-0056GA1998-03$48,211
17Susong Family Foundation Inc2445 Sagamore Dr Nw, Atlanta, GA 30305-4036GA1998-10$44,331
18Winfield Foundation 101695, Knight Deann Bell Ttee2 S Main St Ste 203, Athens, GA 30677-7105GA1998-02$38,526
19William H Jarrett Ii Foundation Inc200 Nacoochee Dr Nw, Atlanta, GA 30305-4108GA1997-10$34,332
20Storey Charitable Tr Ua Frederick G Storey 050797, Storey Frederick G Ttee2525 Ptree Rd Ne Apt 15, Atlanta, GA 30305-3669GA1997-07$32,944
Number of organizations performing similar types of work
Alaska3
Alabama54
Arkansas18
Arizona59
California546
Colorado120
Connecticut79
District of Columbia27
Delaware43
Florida350
Georgia158
Hawaii18
Iowa57
Idaho23
Illinois317
Indiana81
Kansas53
Kentucky41
Louisiana50
Massachusetts113
Maryland112
Maine18
Michigan202
Minnesota97
Missouri73
Mississippi27
Montana8
North Carolina155
North Dakota2
Nebraska42
New Hampshire19
New Jersey213
New Mexico23
Nevada42
New York524
Ohio206
Oklahoma52
Oregon60
Pennsylvania239
Rhode Island33
South Carolina40
South Dakota12
Tennessee49
Texas377
Utah46
Virginia120
Vermont7
Washington88
Wisconsin89
West Virginia9
Wyoming19
International12
Total5,225

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