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Nonprofiteer
← LAKES AREA KIDS ENRICHMENT FOUNDATION

Form 990 for tax year 2024

Filed by LAKES AREA KIDS ENRICHMENT FOUNDATION.

Totals

Total revenue
$931,256
Total expenses
$471,596
Contributions and grants received
$140,000
Grants paid
$0
Program service revenue
$768,496
Investment income
$22,460
Other revenue
$300
Total assets, end of year
$7,983,303
Total liabilities, end of year
$5,257,538
Net assets or fund balances, end of year
$2,725,765
Program services expenses (Part IX)
$449,312
Management and general expenses
$20,119
Fundraising expenses
$2,165
Program service expenses (Part III)
$449,312

Program services were 95.3% 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

    $140,000

  • 2a · Program service revenue: CHARTER SCHOOL RENTAL

    total $768,496 · related or exempt $768,496

  • 3 · Investment income

    total $22,460 · excluded $22,460

  • 11a · Other revenue: MISC INCOME

    total $300 · excluded $300

  • 11e · Other revenue, total

    $300

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $17,727 · management and general $17,727

  • 12 · Advertising and promotion

    total $2,165 · fundraising $2,165

  • 13 · Office expenses

    total $718 · management and general $718

  • 16 · Occupancy

    total $1,363 · program services $1,363

  • 20 · Interest

    total $160,733 · program services $160,733

  • 22 · Depreciation, depletion and amortization

    total $244,113 · program services $244,113

  • 23 · Insurance

    total $9,496 · program services $9,496

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $35,278 · program services $33,607 · management and general $1,671

  • 24b · Other expenses: BANK AND CREDIT CARD FE

    total $3 · management and general $3

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $260,026 · end of year $196,804

  • 2 · Savings and temporary cash investments

    beginning of year $300,792 · end of year $853,858

  • 4 · Accounts receivable

    beginning of year $120,600 · end of year $178,952

  • 9 · Prepaid expenses and deferred charges

    end of year $1,698

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

    $8,351,083

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

    $1,599,092

  • 10c · Land, buildings and equipment, net

    beginning of year $6,988,546 · end of year $6,751,991

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,628 · end of year $10,313

  • 23 · Secured mortgages and notes payable

    beginning of year $5,393,231 · end of year $5,247,225

  • 27 · Net assets without donor restrictions

    beginning of year $2,266,105 · end of year $2,595,765

  • 28 · Net assets with donor restrictions

    end of year $130,000

Mission and programs · 2024

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 2024-2025 SCHOOL YEAR, STUDENT ENROLLMENT IN GRADES K-8 AND THE ONLINE HIGH SCHOOL WAS 489 STUDENTS.

    Expenses $449,312 · Revenue $768,496

As filed on the 2024 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
2024
Filed
11 March 2026
IRS schema version
2024v5.5
Source object
202600849349300315

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