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Nonprofiteer
← LAKESHORE ADVANTAGE CORPORATION

Form 990 for tax year 2023

Filed by LAKESHORE ADVANTAGE CORPORATION.

Totals

Total revenue
$6,704,698
Total expenses
$2,040,853
Contributions and grants received
$6,552,988
Grants paid
$14,000
Program service revenue
$0
Investment income
$151,710
Other revenue
$0
Total assets, end of year
$6,523,366
Total liabilities, end of year
$580,778
Net assets or fund balances, end of year
$5,942,588
Program services expenses (Part IX)
$1,669,626
Management and general expenses
$371,227
Fundraising expenses
$0
Program service expenses (Part III)
$1,669,626

Program services were 81.8% 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.

  • 1e · Government grants (contributions)

    $4,786,128

  • 1f · All other contributions, gifts and grants

    $1,766,860

  • 1g · Noncash contributions included above

    $17,500

  • 3 · Investment income

    total $151,710 · related or exempt $151,710

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $14,000 · program services $14,000

  • 5 · Compensation of officers, directors and key employees

    total $708,546 · program services $571,161 · management and general $137,385

  • 7 · Other salaries and wages

    total $629,149 · program services $478,634 · management and general $150,515

  • 8 · Pension plan contributions

    total $34,849 · program services $26,222 · management and general $8,627

  • 9 · Other employee benefits

    total $81,016 · program services $72,914 · management and general $8,102

  • 10 · Payroll taxes

    total $92,491 · program services $72,509 · management and general $19,982

  • 11b · Fees: legal

    total $3,825 · program services $3,825

  • 11c · Fees: accounting

    total $35,966 · program services $6,123 · management and general $29,843

  • 13 · Office expenses

    total $8,100 · program services $7,695 · management and general $405

  • 14 · Information technology

    total $44,673 · program services $42,440 · management and general $2,233

  • 16 · Occupancy

    total $42,200 · program services $40,090 · management and general $2,110

  • 17 · Travel

    total $23,378 · program services $23,378

  • 22 · Depreciation, depletion and amortization

    total $7,801 · program services $7,411 · management and general $390

  • 23 · Insurance

    total $7,683 · program services $7,299 · management and general $384

  • 24a · Other expenses: SPECIAL PROJECTS

    total $120,861 · program services $120,861

  • 24b · Other expenses: CONTRACT LABOR

    total $58,755 · program services $58,755

  • 24c · Other expenses: EVENTS

    total $41,568 · program services $41,568

  • 24d · Other expenses: MARKETING

    total $35,125 · program services $35,125

  • 24e · All other expenses

    total $50,867 · program services $39,616 · management and general $11,251

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,200,024 · end of year $3,221,213

  • 3 · Pledges and grants receivable

    beginning of year $79,329 · end of year $589,707

  • 4 · Accounts receivable

    end of year $30,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,732

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

    $520,991

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

    $54,913

  • 10c · Land, buildings and equipment, net

    beginning of year $17,407 · end of year $466,078

  • 15 · Other assets

    beginning of year $129,905 · end of year $2,216,368

  • 17 · Accounts payable and accrued expenses

    beginning of year $70,347 · end of year $579,776

  • 25 · Other liabilities

    beginning of year $95,307 · end of year $1,002

  • 27 · Net assets without donor restrictions

    beginning of year $1,278,743 · end of year $4,052,241

  • 28 · Net assets with donor restrictions

    end of year $1,890,347

Mission and programs · 2023

Mission

THE ORGANIZATION STRIVES TO FOSTER AND IMPLEMENT INNOVATIVE STRATEGIES FOR SOUND ECONOMIC DEVELOPMENT IN THE LAKESHORE AREA TO ENHANCE THE REGION'S QUALITY OF LIFE.

  • THE ORGANIZATION STRIVES TO FOSTER AND IMPLEMENT INNOVATIVE STRATEGIES FOR SOUND ECONOMIC DEVELOPMENT IN THE LAKESHORE AREA TO ENHANCE THE REGION'S QUALITY OF LIFE.

    Expenses $1,669,626 · Grants $14,000

As filed on the 2023 return.

Listed in Part VII

  • Jennifer Owens

    PRESIDENT

    Total calculated
    $279,500
    From this org
    $279,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,995
    Bonus
    $46,940
    Other
    $19,565
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $279,500

  • Angela Huesman

    COO

    Total calculated
    $118,518
    From this org
    $118,518
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Amanda Murray

    VP BUSINESS

    Total calculated
    $103,839
    From this org
    $103,839
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Amanda Cooper

    VP STRATEGIC

    Total calculated
    $105,059
    From this org
    $105,059
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Elizabeth Blanton

    VP ENGAGEMEN

    Total calculated
    $101,630
    From this org
    $101,630
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Neil Boehm

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Scott Brooks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Stutz

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Remondino

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Mark Schmidt

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Holly Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dave Koster

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Phil Lamothe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Scott Lubbers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nick Nykerk

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Bill Pink

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steve Ramus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dave Tebo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Craig Ulrich

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Vander Kolk

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kyle Verplank

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • DISHER CORP

    $11,000

    GENERAL SUPPORT

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • LAKESHORE ADVANTAGE HOLDINGS LLC

    SUPPORT · MI

    Directly controlled by LAKESHORE ADVANTAGE CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
10 August 2024
IRS schema version
2023v5.0
Source object
202442399349301204

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