Skip to content
Nonprofiteer
← LAKES AREA KIDS ENRICHMENT FOUNDATION

Form 990 for tax year 2022

Filed by LAKES AREA KIDS ENRICHMENT FOUNDATION.

Totals

Total revenue
$718,100
Total expenses
$481,434
Contributions and grants received
$10,000
Grants paid
$6,000
Program service revenue
$708,100
Investment income
$0
Other revenue
$0
Total assets, end of year
$7,604,469
Total liabilities, end of year
$5,553,886
Net assets or fund balances, end of year
$2,050,583
Program services expenses (Part IX)
$459,911
Management and general expenses
$21,523
Fundraising expenses
$0
Program service expenses (Part III)
$459,911

Program services were 95.5% 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

    $10,000

  • 2a · Program service revenue: CHARTER SCHOOL RENTAL

    total $708,100 · related or exempt $708,100

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $6,000 · program services $6,000

  • 11c · Fees: accounting

    total $20,560 · management and general $20,560

  • 13 · Office expenses

    total $960 · management and general $960

  • 20 · Interest

    total $173,361 · program services $173,361

  • 22 · Depreciation, depletion and amortization

    total $231,706 · program services $231,706

  • 23 · Insurance

    total $12,984 · program services $12,984

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $35,007 · program services $35,007

  • 24b · Other expenses: UTILITIES

    total $708 · program services $708

  • 24c · Other expenses: TAXES AND LICENSES

    total $120 · program services $120

  • 24d · Other expenses: PROPERTY TAXES

    total $25 · program services $25

  • 24e · All other expenses

    total $3 · management and general $3

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $218,069 · end of year $350,720

  • 2 · Savings and temporary cash investments

    beginning of year $789 · end of year $790

  • 3 · Pledges and grants receivable

    beginning of year $11,834 · end of year $11,834

  • 4 · Accounts receivable

    end of year $118,552

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

    $8,246,119

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

    $1,123,546

  • 10c · Land, buildings and equipment, net

    beginning of year $7,261,956 · end of year $7,122,573

  • 17 · Accounts payable and accrued expenses

    beginning of year $125 · end of year $12,749

  • 23 · Secured mortgages and notes payable

    beginning of year $5,671,669 · end of year $5,534,372

  • 25 · Other liabilities

    beginning of year $6,937 · end of year $6,765

  • 27 · Net assets without donor restrictions

    beginning of year $1,813,917 · end of year $2,050,583

Mission and programs · 2022

Mission

THE PRIMARY PURPOSES OF THE LAKE FOUNDATION WILL BE TO CONSTRUCT AND MAINTAIN A BUILDING FOR THE USE OF CROSSLAKE COMMUNITY SCHOOL (CCS) FOR PROVIDING SCHOOL CLASSROOMS AND ANCILLARY SPACES FOR CHILDREN'S EDUCATION ACTIVITIES. AS SUCH, CCS, A PUBLIC CHARITY UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE WILL CONTRACT WITH THE LAKE FOUNDATION FOR RENTAL OF THE SCHOOL BUILDING.

Activities or mission (Part I)

CONSTRUCT AND MAINTAIN A BUILDING FOR THE USE OF CROSSLAKE COMMUNITY SCHOOL.

  • FOR THE 2022-2023 SCHOOL YEAR, STUDENT ENROLLMENT IN GRADES K-8 AND THE ONLINE HIGH SCHOOL WAS 438 STUDENTS.

    Expenses $459,911 · Grants $6,000 · Revenue $708,100

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard Eide

    PRESIDENT

    Total calculated
    $0
    Hours/week
    15

  • Michael Stone

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    12

  • J Michael O'Connell

    SECRETARY

    Total calculated
    $0
    Hours/week
    12

  • Jennifer Max

    TREASURER

    Total calculated
    $0
    Hours/week
    12

  • Leah Heggerston

    DIRECTOR

    Total calculated
    $0
    Hours/week
    8

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
3 February 2024
IRS schema version
2022v5.0
Source object
202400379349301955

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

The source document this was parsed from is served over the API, which is where bulk and document access live.