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Nonprofiteer
← LAKE TRUST CREDIT UNION FOUNDATION

Form 990 for tax year 2022

Filed by LAKE TRUST CREDIT UNION FOUNDATION.

Totals

Total revenue
$261,044
Total expenses
$268,770
Contributions and grants received
$267,407
Grants paid
$265,814
Program service revenue
$0
Investment income
$1,298
Other revenue
-$7,661
Total assets, end of year
$756,165
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$756,165
Program services expenses (Part IX)
$268,770
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$268,770

Program services were 100.0% 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.

  • 1c · Fundraising events

    $82,208

  • 1d · Related organizations

    $114,173

  • 1f · All other contributions, gifts and grants

    $71,026

  • 3 · Investment income

    total $1,298 · excluded $1,298

  • 8a · Fundraising events: gross income

    $52,267

  • 8a · Fundraising events: contributions included on line 1c

    $82,208

  • 8b · Fundraising events: direct expenses

    $59,928

  • 8c · Net income from fundraising events

    total -$7,661 · excluded -$7,661

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $235,814 · program services $235,814

  • 2 · Grants to domestic individuals

    total $30,000 · program services $30,000

  • 12 · Advertising and promotion

    total $1,313 · program services $1,313

  • 24a · Other expenses: MISCELLANEOUS

    total $1,262 · program services $1,262

  • 24b · Other expenses: SUPPLIES

    total $381 · program services $381

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $768,891 · end of year $755,890

  • 9 · Prepaid expenses and deferred charges

    end of year $275

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,000 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $641,024 · end of year $726,883

  • 28 · Net assets with donor restrictions

    beginning of year $122,867 · end of year $29,282

Mission and programs · 2022

Mission

THE LAKE TRUST CREDIT UNION FOUNDATION'S PRIMARY PURPOSE IS TO CREATE HEALTHY AND VIBRANT COMMUNITIES THROUGH EDUCATING, ENGAGING AND GIVING IN THE AREAS OF ECONOMIC EMPOWERMENT AND COMMUNITY ENHANCEMENT.

  • LAKE TRUST CREDIT UNION FOUNDATION AWARDS GRANTS TO ORGANIZATIONS WHOSE PURPOSE AND CORE VALUE IS TO MAKE A DIFFERENCE BY INVESTING IN COMMUNITY DEVELOPMENT, HEALTH AND THE ARTS, CREATING VIBRANT NEIGHBORHOODS, A STRONGER MICHIGAN, AND A BETTER WORLD. SPECIFICALLY, THE LAKE TRUST CREDIT UNION FOUNDATION AWARDED TWO GRANTS TOTALING $20,000. THIS WAS PROVIDED TO ASSIST WITH VARIOUS PROGRAMS IN MICHIGAN FOR HOUSING, INVESTING, AND TEEN PROGRAMS.

    Expenses $20,000 · Grants $20,000

  • THE LAKE TRUST CREDIT UNION FOUNDATION AWARDED SIX GRADUATING MICHIGAN HIGH SCHOOL SENIORS A VARYING DOLLAR AMOUNT SCHOLARSHIP TOTALING $30,000 TO ATTEND A MICHIGAN UNIVERSITY, COLLEGE OR VOCATIONAL SCHOOL.

    Expenses $30,000 · Grants $30,000

  • THE LAKE TRUST CREDIT UNION FOUNDATION AWARDED COMMUNITY ORGANIZATIONS $116,700, COMMUNITY FOOD BANKS $93,821 AND ASSISTANCE PROGRAMS THROUGHOUT MID-MICHIGAN A TOTAL OF $5,293. THIS WILL HELP TO SUPPORT COMMUNITY DEVELOPMENT AND FAMILIES IN NEED WITH FOOD AND PERSONAL SUPPLIES THROUGHOUT THE YEAR.

    Expenses $218,770 · Grants $215,814

As filed on the 2022 return.

Listed in Part VII

  • David Snodgrass

    BOARD OF DIRECTORS, PRESIDENT

    Total calculated
    $1,501,057
    From this org
    $0
    From related orgs
    $1,175,039
    Other
    $326,018
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $699,439 related
    Bonus
    $0 + $450,500 related
    Other
    $0 + $25,100 related
    Deferred
    $0 + $306,452 related
    Nontaxable benefits
    $0 + $19,566 related
    Filer's total
    $0 + $1,501,057 related

  • Raynor Zillgitt

    BOARD OF DIRECTORS, SECRETARY

    Total calculated
    $279,501
    From this org
    $0
    From related orgs
    $251,149
    Other
    $28,352
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $240,756 related
    Bonus
    $0 + $9,493 related
    Other
    $0 + $900 related
    Deferred
    $0 + $12,739 related
    Nontaxable benefits
    $0 + $15,613 related
    Filer's total
    $0 + $279,501 related

  • Brandalynn Winchester-Middlebrook

    BOARD OF DIRECTORS, TREASURER

    Total calculated
    $233,570
    From this org
    $0
    From related orgs
    $214,604
    Other
    $18,966
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $205,666 related
    Bonus
    $0 + $8,038 related
    Other
    $0 + $900 related
    Deferred
    $0 + $10,741 related
    Nontaxable benefits
    $0 + $8,225 related
    Filer's total
    $0 + $233,570 related

  • Theresa Dubiel

    BOARD OF DIRECTORS

    Total calculated
    $231,826
    From this org
    $0
    From related orgs
    $214,041
    Other
    $17,785
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $205,224 related
    Bonus
    $0 + $7,917 related
    Other
    $0 + $900 related
    Deferred
    $0 + $10,760 related
    Nontaxable benefits
    $0 + $7,025 related
    Filer's total
    $0 + $231,826 related

  • Linda Douglas

    BOARD OF DIRECTORS

    Total calculated
    $217,347
    From this org
    $0
    From related orgs
    $187,220
    Other
    $30,127
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $179,472 related
    Bonus
    $0 + $7,148 related
    Other
    $0 + $600 related
    Deferred
    $0 + $9,592 related
    Nontaxable benefits
    $0 + $20,535 related
    Filer's total
    $0 + $217,347 related

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
10 October 2023
IRS schema version
2022v5.0
Source object
202332929349301708

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

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