Lake Serenity Inc

Analysis

Lake Serenity Inc is a registered charity in United States, based in Germantown, TN. It received its IRS tax-exemption ruling in January 2008, 18 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Lake Serenity Inc reported income of $165k and spending of $246k, spending 149% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $136k to $165k (+22%), an average of +5.0% a year. The sharpest change came in the year to June 2024, when income rose by 17%. Over the whole period it spent 139% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lake Serenity Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 50th percentile within TN. Charities of a similar size with the same main cause include Making Dreams Reality ($165k), Madison Community Housing Incorporated ($165k) and Bonner Community Housing Agencyincorporated ($165k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 98% of the total. Other salaries and wages came to $20k. At year end it held assets of $1.8m against liabilities of $41k, net assets of $1.7m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.