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Nonprofiteer
← LAKESHORE COMMUNITY FOUNDATION INC

Form 990 for tax year 2023

Filed by LAKESHORE COMMUNITY FOUNDATION INC.

Totals

Total revenue
$13,617,516
Total expenses
$1,791,149
Contributions and grants received
$11,525,190
Grants paid
$1,475,103
Program service revenue
$91,761
Investment income
$2,000,565
Other revenue
$0
Total assets, end of year
$91,205,472
Total liabilities, end of year
$31,739,000
Net assets or fund balances, end of year
$59,466,472
Program services expenses (Part IX)
$1,579,867
Management and general expenses
$186,128
Fundraising expenses
$25,154
Program service expenses (Part III)
$1,579,867

Program services were 88.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $11,525,190

  • 1g · Noncash contributions included above

    $814,365

  • 2a · Program service revenue: ADMINISTRATIVE FEE REVENUE

    total $91,761 · related or exempt $91,761

  • 3 · Investment income

    total $1,124,675 · excluded $1,124,675

  • 7a · Gross sales of assets other than inventory

    securities $2,393,756

  • 7b · Less cost or other basis and sales expenses

    securities $1,517,866

  • 7c · Gain or loss

    securities $875,890

  • 7d · Net gain or loss

    total $875,890 · excluded $875,890

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,475,103 · program services $1,475,103

  • 5 · Compensation of officers, directors and key employees

    total $121,691 · program services $60,846 · management and general $48,676 · fundraising $12,169

  • 7 · Other salaries and wages

    total $49,018 · program services $24,509 · management and general $19,607 · fundraising $4,902

  • 9 · Other employee benefits

    total $2,231 · program services $1,115 · management and general $893 · fundraising $223

  • 10 · Payroll taxes

    total $12,797 · program services $6,398 · management and general $5,119 · fundraising $1,280

  • 11b · Fees: legal

    total $5,073 · management and general $5,073

  • 11c · Fees: accounting

    total $15,117 · management and general $15,117

  • 11f · Fees: investment management

    total $76,920 · management and general $76,920

  • 11g · Fees: other

    total $9,400 · management and general $9,400

  • 12 · Advertising and promotion

    total $1,127 · program services $563 · fundraising $564

  • 13 · Office expenses

    total $6,183 · program services $3,090 · management and general $1,774 · fundraising $1,319

  • 14 · Information technology

    total $417 · program services $208 · fundraising $209

  • 17 · Travel

    total $3,103 · program services $1,551 · fundraising $1,552

  • 19 · Conferences, conventions and meetings

    total $4,097 · program services $2,048 · fundraising $2,049

  • 23 · Insurance

    total $5,476 · program services $2,738 · management and general $2,190 · fundraising $548

  • 24a · Other expenses: DUES & MEMBERSHIPS

    total $1,533 · program services $767 · management and general $613 · fundraising $153

  • 24e · All other expenses

    total $1,863 · program services $931 · management and general $746 · fundraising $186

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $83,801 · end of year $87,630

  • 3 · Pledges and grants receivable

    beginning of year $23,205 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,758 · end of year $4,648

  • 10a · Land, buildings and equipment: cost or other basis

    $5,545

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,545

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $66,758,012 · end of year $89,232,493

  • 15 · Other assets

    beginning of year $1,821,500 · end of year $1,880,701

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,449 · end of year $38,252

  • 25 · Other liabilities

    beginning of year $25,987,413 · end of year $31,700,748

  • 27 · Net assets without donor restrictions

    beginning of year $40,860,914 · end of year $57,585,771

  • 28 · Net assets with donor restrictions

    beginning of year $1,821,500 · end of year $1,880,701

Mission and programs · 2023

Mission

LAKESHORE COMMUNITY FOUNDATION'S MISSION IS TO GATHER, GROW AND GIVE CHARITABLE FINANCIAL RESOURCES TO BENEFIT THE COMMUNITIES IT SERVES NOW AND FOR THE FUTURE.

Activities or mission (Part I)

TO GATHER, GROW AND GIVE CHARITABLE FINANCIAL RESOURCES TO BENEFIT THE COMMUNITIES IT SERVES NOW AND FOR FUTURE GENERATIONS.

  • LAKESHORE COMMUNITY FOUNDATION, INC. IS A TAX EXEMPT PUBLIC CHARITY ORGANIZED TO PROMOTE AND MANAGE ENDOWMENT FUNDS PRIMARILY FOR THE BENEFIT OF SHEBOYGAN AND MANITOWOC COUNTIES. THE FOUNDATION RECEIVES, ADMINISTERS, AND DISTRIBUTES GIFTS FROM INDIVIDUALS AND ORGANIZATIONS FOR THE LONG TERM BENEFIT OF THE COUNTIES IT SERVES. DURING 2023, THE FOUNDATION ADDED 8 NEW FUNDS TO ITS PORTFOLIO, AND CLOSED ONE, FOR A TOTAL OF 98 FUNDS WITH AN AGGREGATE MARKET VALUE OF $89,015,000 AT YEAR END. AVERAGE FUND SIZE WAS $908,000. DURING 2023, GROWTH IN GIFTS TO NEW AND EXISTING FUNDS WAS $13,884,000. THE FOUNDATION MADE 227 GRANTS DURING 2023 TOTALING $2,439,000. SINCE THE FIRST FUND WAS ESTABLISHED IN MAY 2011, THE FOUNDATION HAS DISTRIBUTED MORE THAN $22,300,000 IN GRANTS.

    Expenses $1,579,867 · Grants $1,475,103 · Revenue $91,761

As filed on the 2023 return.

Listed in Part VII

  • Rachel Wiegert

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $121,691
    From this org
    $110,000
    From related orgs
    $0
    Other
    $11,691
    Hours/week
    50

  • Thomas Aschenbrenner

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • James Vopat

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • Thomas Bare

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Jane Pfeffer

    SECRETARY

    Total calculated
    $0
    Hours/week
    1.5

  • Richard Balge

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Randall Olm

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Grant Pauly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Alex Allie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Pamela Langan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Joseph Diraimondo

    DIRECTOR (THROUGH SEPT)

    Total calculated
    $0
    Hours/week
    1.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
30 May 2024
IRS schema version
2023v5.0
Source object
202431559349300013

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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