Lakes Charitable Foundation

Wilmington, DE
Tax-exempt since May 2012
EIN: 27-1424586

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Private Grantmaking Foundations (NTEE)

Donations to this organization are tax deductible.

Revenue

−$8.02k (2023)

Expenses

$32.9k (2023)

Total Assets

$215k (2023)

Total Liabilities

$0 (2023)

Source: Form 990 tax filings from 2010 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Revenue

-$8,019

Expenses

$32,875

Net Income

-$40,894

Net Assets

$214,580

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$35,345
Interest Revenue	$1,796
Dividends	$465
Sales of Assets	-$50,000
Other Income	$4,375

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$32,700	99.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$214,580
Total Liabilities	$0
Net Assets	$214,580

Compensation

Key Employees and Officers	Compensation	Other
Kevin Carnahan (Co Pres, Dir, Sec)	$0	$0
Laurie Carnahan (Co Pres, Dir)	$0	$0

990-PF

Filed on Nov. 14, 2024

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2022

Revenue

$32,509

Expenses

$108,923

Net Income

-$76,414

Net Assets

$255,474

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$36,000	> 100%
Interest Revenue	$10	0.0%
Dividends	$1,008	3.1%
Sales of Assets	-$4,509
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$107,829	99.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$255,474
Total Liabilities	$0
Net Assets	$255,474

Compensation

Key Employees and Officers	Compensation	Other
Kevin Carnahan (Co Pres, Dir, Sec)	$0	$0
Laurie Carnahan (Co Pres, Dir)	$0	$0

990-PF

Filed on Nov. 15, 2023

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2021

Revenue

$46,763

Expenses

$93,573

Net Income

-$46,810

Net Assets

$331,888

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$39,000	83.4%
Interest Revenue	$2	0.0%
Dividends	$2,026	4.3%
Sales of Assets	$1,353	2.9%
Other Income	$4,382	9.4%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$92,467	98.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$331,888
Total Liabilities	$0
Net Assets	$331,888

Compensation

Key Employees and Officers	Compensation	Other
Kevin Carnahan (Co Pres, Dir, Sec)	$0	$0
Laurie Carnahan (Co Pres, Dir)	$0	$0

990-PF

Filed on Nov. 15, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2020

Revenue

$37,084

Expenses

$63,063

Net Income

-$25,979

Net Assets

$378,697

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$33,000	89.0%
Interest Revenue	$6	0.0%
Dividends	$794	2.1%
Sales of Assets	$0
Other Income	$5,000	13.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$62,536	99.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$378,698
Total Liabilities	$1
Net Assets	$378,697

Compensation

Key Employees and Officers	Compensation	Other
Kevin Carnahan (Co Pres, Dir, Sec)	$0	$0
Laurie Carnahan (Co Pres, Dir)	$0	$0

990-PF

Filed on Nov. 16, 2021

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2019

Revenue

$42,605

Expenses

$73,776

Net Income

-$31,171

Net Assets

$404,676

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$36,000	84.5%
Interest Revenue	$8	0.0%
Dividends	$1,912	4.5%
Sales of Assets	$0
Other Income	$5,000	11.7%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$72,031	97.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$404,677
Total Liabilities	$1
Net Assets	$404,676

Compensation

Key Employees and Officers	Compensation	Other
Kevin Carnahan (Co Pres, Dir, Sec)	$0	$0
Laurie Carnahan (Co Pres, Dir)	$0	$0

990-PF

Filed on Nov. 16, 2020

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2018

Revenue

$90,859

Expenses

$96,380

Net Income

-$5,521

Net Assets

$435,848

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$83,000	91.4%
Interest Revenue	$91	0.1%
Dividends	$2,225	2.4%
Sales of Assets	-$1,306
Other Income	$6,849	7.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$93,664	97.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$435,848
Total Liabilities	$0
Net Assets	$435,848

Compensation

Key Employees and Officers	Compensation	Other
Kevin Carnahan (Co Pres, Dir, Sec)	$0	$0
Laurie Carnahan (Co Pres, Dir)	$0	$0

990-PF

Filed on Nov. 15, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2017

Revenue

$52,601

Expenses

$54,769

Net Income

-$2,168

Net Assets

$441,369

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$40,000	76.0%
Interest Revenue	$3	0.0%
Dividends	$54	0.1%
Sales of Assets	-$206
Other Income	$12,750	24.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$53,321	97.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$441,369
Total Liabilities	$0
Net Assets	$441,369

Compensation

Key Employees and Officers	Compensation	Other
Kevin Carnahan (Co Pres / Dir / Sec)	$0	$0
Laurie Carnahan (Co Pres / Dir)	$0	$0

990-PF

Filed on Nov. 15, 2018

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2016

Revenue

$180,631

Expenses

$116,578

Net Income

$64,053

Net Assets

$443,537

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$48,000	26.6%
Interest Revenue	$6	0.0%
Dividends	$2,617	1.4%
Sales of Assets	$120,983	67.0%
Other Income	$9,025	5.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$112,271	96.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$443,537
Total Liabilities	$0
Net Assets	$443,537

Compensation

Key Employees and Officers	Compensation	Other
Kevin Carnahan (Co Pres / Dir / Sec)	$0	$0
Laurie Carnahan (Co Pres / Dir)	$0	$0

990-PF

Filed on Nov. 15, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2015

Revenue

$232,005

Expenses

$118,333

Net Income

$113,672

Net Assets

$379,484

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$73,000	31.5%
Interest Revenue	$4	0.0%
Dividends	$6,617	2.9%
Sales of Assets	$142,400	61.4%
Other Income	$9,984	4.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$114,900	97.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$379,484
Total Liabilities	$0
Net Assets	$379,484

Compensation

Key Employees and Officers	Compensation	Other
Kevin Carnahan (Co Pres / Dir / Sec)	$0	$0
Laurie Carnahan (Co Pres / Dir)	$0	$0

990-PF

Filed on Nov. 15, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2014

Revenue

$64,176

Expenses

$122,212

Net Income

-$58,036

Net Assets

$265,812

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$48,000	74.8%
Interest Revenue	$5	0.0%
Dividends	$12,865	20.0%
Sales of Assets	$3,306	5.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$121,388	99.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$265,812
Total Liabilities	$0
Net Assets	$265,812

Compensation

Key Employees and Officers	Compensation	Other
Kevin Carnahan (Co Pres / Dir / Sec)	$0	$0
Laurie Carnahan (Co Pres / Dir)	$0	$0

990-PF

Filed on May 12, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2013

Revenue

$58,939

Expenses

$74,076

Net Income

-$15,137

Net Assets

$323,848

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$48,000	81.4%
Interest Revenue	$2	0.0%
Dividends	$6,434	10.9%
Sales of Assets	$4,501	7.6%
Other Income	$2	0.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$72,907	98.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$323,848
Total Liabilities	$0
Net Assets	$323,848

Compensation

Key Employees and Officers	Compensation	Other
Kevin Carnahan (Co Pres / Dir / Sec)	$0	$0
Laurie Carnahan (Co Pres / Dir)	$0	$0

990-PF

Filed on Nov. 13, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2012

Revenue

$115,749

Expenses

$253,004

Net Income

-$137,255

Net Assets

$338,984

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$48,000	41.5%
Interest Revenue	$0
Dividends	$11,750	10.2%
Sales of Assets	$55,991	48.4%
Other Income	$8	0.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$245,127	96.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$338,985
Total Liabilities	$1
Net Assets	$338,984

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$99,447

Expenses

$78,232

Net Income

$21,215

Net Assets

$476,239

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$96,000	96.5%
Interest Revenue	$0
Dividends	$4,110	4.1%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$78,033	99.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$476,240
Total Liabilities	$1
Net Assets	$476,239

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2010

Revenue

$510,950

Expenses

$55,925

Net Income

$455,025

Net Assets

$455,025

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$510,950	100%
Interest Revenue	$0
Dividends	$0
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$55,925	100%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$455,025
Total Liabilities	$0
Net Assets	$455,025

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

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Lakes Charitable Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue −$8.02k (2023)

Expenses $32.9k (2023)

Total Assets $215k (2023)

Total Liabilities $0 (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Revenue

−$8.02k (2023)

Expenses

$32.9k (2023)

Total Assets

$215k (2023)

Total Liabilities

$0 (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010