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Nonprofiteer
← LAKESHORE COMMUNITY FOUNDATION INC

Form 990 for tax year 2024

Filed by LAKESHORE COMMUNITY FOUNDATION INC.

Totals

Total revenue
$16,802,979
Total expenses
$1,980,681
Contributions and grants received
$13,031,849
Grants paid
$1,570,376
Program service revenue
$110,127
Investment income
$3,661,003
Other revenue
$0
Total assets, end of year
$115,562,778
Total liabilities, end of year
$39,061,976
Net assets or fund balances, end of year
$76,500,802
Program services expenses (Part IX)
$1,704,453
Management and general expenses
$247,460
Fundraising expenses
$28,768
Program service expenses (Part III)
$1,704,453

Program services were 86.1% 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

    $13,031,849

  • 1g · Noncash contributions included above

    $2,145,371

  • 2a · Program service revenue: ADMINISTRATIVE FEE REVENUE

    total $110,127 · related or exempt $110,127

  • 3 · Investment income

    total $1,630,684 · excluded $1,630,684

  • 7a · Gross sales of assets other than inventory

    securities $3,007,757

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

    securities $977,438

  • 7c · Gain or loss

    securities $2,030,319

  • 7d · Net gain or loss

    total $2,030,319 · excluded $2,030,319

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,570,376 · program services $1,570,376

  • 5 · Compensation of officers, directors and key employees

    total $149,350 · program services $74,675 · management and general $59,740 · fundraising $14,935

  • 7 · Other salaries and wages

    total $65,733 · program services $32,867 · management and general $26,293 · fundraising $6,573

  • 9 · Other employee benefits

    total $17,444 · program services $8,722 · management and general $6,978 · fundraising $1,744

  • 10 · Payroll taxes

    total $16,120 · program services $8,060 · management and general $6,448 · fundraising $1,612

  • 11b · Fees: legal

    total $9,182 · management and general $9,182

  • 11c · Fees: accounting

    total $14,627 · management and general $14,627

  • 11f · Fees: investment management

    total $107,184 · management and general $107,184

  • 11g · Fees: other

    total $11,155 · management and general $11,155

  • 12 · Advertising and promotion

    total $272 · program services $136 · fundraising $136

  • 13 · Office expenses

    total $6,561 · program services $3,280 · management and general $2,227 · fundraising $1,054

  • 14 · Information technology

    total $434 · program services $217 · fundraising $217

  • 17 · Travel

    total $3,131 · program services $1,565 · fundraising $1,566

  • 19 · Conferences, conventions and meetings

    total $47 · program services $23 · fundraising $24

  • 23 · Insurance

    total $5,460 · program services $2,730 · management and general $2,184 · fundraising $546

  • 24a · Other expenses: DUES & MEMBERSHIPS

    total $1,560 · program services $780 · management and general $624 · fundraising $156

  • 24e · All other expenses

    total $2,045 · program services $1,022 · management and general $818 · fundraising $205

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $87,630 · end of year $63,042

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,648 · end of year $13,062

  • 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 $89,232,493 · end of year $113,443,483

  • 15 · Other assets

    beginning of year $1,880,701 · end of year $2,043,191

  • 17 · Accounts payable and accrued expenses

    beginning of year $38,252 · end of year $42,686

  • 25 · Other liabilities

    beginning of year $31,700,748 · end of year $39,019,290

  • 27 · Net assets without donor restrictions

    beginning of year $57,585,771 · end of year $74,457,611

  • 28 · Net assets with donor restrictions

    beginning of year $1,880,701 · end of year $2,043,191

Mission and programs · 2024

Mission

MISSION STATEMENT: TO GATHER, GROW, AND GIVE ENDOWED CHARITABLE FINANCIAL RESOURCES TO BUILD STRONGER, MORE VIBRANT COMMUNITIES NOW AND INTO THE FUTURE.VALUE STATEMENT:WE ARE COMMITTED TO MANAGING OUR CLIENTS' PHILANTHROPIC ENDOWMENTS IN PERPETUITY, WITH A FOCUS ON MINIMIZING COSTS AND FEES TO MAXIMIZE THEIR IMPACT ON THE GRANTEES THEY CARE ABOUT MOST. OUR PRIORITY REMAINS SOLELY ON SUPPORTING OUR CLIENTS' CHARITABLE GOALS, THEREBY STRENGTHENING OUR COMMUNITIES THROUGHOUT THE LAKESHORE AREA AND BEYOND.

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 2024, THE FOUNDATION ADDED NINE NEW FUNDS TO ITS PORTFOLIO, AND CLOSED TWO, FOR A TOTAL OF 105 FUNDS WITH AN AGGREGATE MARKET VALUE OF $113.1 MILLION AT YEAR END. AVERAGE FUND SIZE WAS $1.1 MILLION. DURING 2024, GROWTH IN GIFTS TO NEW AND EXISTING FUNDS WAS $18.3 MILLION. THE FOUNDATION ISSUED 294 GRANTS DURING 2024 TOTALING $2.6 MILLION. SINCE THE FIRST FUND WAS ESTABLISHED IN MAY 2011, THE FOUNDATION HAS DISTRIBUTED $24.9 MILLION IN GRANTS.

    Expenses $1,704,453 · Grants $1,570,376 · Revenue $110,127

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Thomas Aschenbrenner

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • James Vopat

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • 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
    2

  • Pamela Langan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Rachel Wiegert

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $149,350
    From this org
    $145,000
    From related orgs
    $0
    Other
    $4,350
    Hours/week
    50

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
2024
Filed
1 May 2025
IRS schema version
2024v5.1
Source object
202511559349301356

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

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