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Nonprofiteer
← LAKE TRUST CREDIT UNION FOUNDATION

Form 990 for tax year 2024

Filed by LAKE TRUST CREDIT UNION FOUNDATION.

Totals

Total revenue
$320,817
Total expenses
$261,068
Contributions and grants received
$258,633
Grants paid
$240,065
Program service revenue
$0
Investment income
$7,576
Other revenue
$54,608
Total assets, end of year
$1,045,631
Total liabilities, end of year
$10,000
Net assets or fund balances, end of year
$1,035,631
Program services expenses (Part IX)
$240,210
Management and general expenses
$20,858
Fundraising expenses
$0
Program service expenses (Part III)
$240,210

Program services were 92.0% 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

    $119,511

  • 1d · Related organizations

    $100,000

  • 1f · All other contributions, gifts and grants

    $39,122

  • 3 · Investment income

    total $7,576 · excluded $7,576

  • 8a · Fundraising events: gross income

    $50,432

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

    $119,511

  • 8b · Fundraising events: direct expenses

    $67,543

  • 8c · Net income from fundraising events

    total -$17,111

  • 9a · Gaming: gross income

    $119,540

  • 9b · Gaming: direct expenses

    $47,821

  • 9c · Net income from gaming

    total $71,719 · excluded $71,719

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $199,411 · program services $199,411

  • 2 · Grants to domestic individuals

    total $40,654 · program services $40,654

  • 11g · Fees: other

    total $18,735 · management and general $18,735

  • 13 · Office expenses

    total $579 · program services $145 · management and general $434

  • 24a · Other expenses: MARKETING EXPENSES

    total $1,689 · management and general $1,689

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $980,382 · end of year $353,364

  • 2 · Savings and temporary cash investments

    end of year $690,592

  • 3 · Pledges and grants receivable

    end of year $1,675

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,500

  • 18 · Grants payable

    end of year $10,000

  • 27 · Net assets without donor restrictions

    beginning of year $942,885 · end of year $987,758

  • 28 · Net assets with donor restrictions

    beginning of year $32,997 · end of year $47,873

Mission and programs · 2024

Mission

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 IS A MICHIGAN NONPROFIT CORPORATION THAT WAS ESTABLISHED IN 2013 WITH A MISSION TO HELP BUILD AND SUSTAIN HEALTHY AND VIBRANT COMMUNITIES THROUGH PARTNERSHIPS, OUTREACH PROGRAMS, GRANTS, AND SUPPORT. THE FOUNDATION'S PRIORITIES ARE EMPOWERING ENTREPRENEURS, ENABLING YOUTH TO THRIVE, FOSTERING ECONOMIC EQUITY, SUPPORTING ATTAINABLE AND SECURE HOUSING, AND STRENGTHENING COMMUNITY RESILIENCE.

    Expenses $240,210 · Grants $240,065

As filed on the 2024 return.

Listed in Part VII

  • David Snodgrass

    PRESIDENT

    Total calculated
    $1,049,249
    From this org
    $0
    From related orgs
    $1,002,892
    Other
    $46,357
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $1,002,892 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $46,357 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $1,049,249 related

  • Brandalynn Winchester-Middlebrook

    TREASURER

    Total calculated
    $273,755
    From this org
    $0
    From related orgs
    $252,042
    Other
    $21,713
    Hours/week
    4 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $252,042 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $21,713 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $273,755 related

  • Raynor Zillgitt

    SECRETARY

    Total calculated
    $207,152
    From this org
    $0
    From related orgs
    $184,226
    Other
    $22,926
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $184,226 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $22,926 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $207,152 related

  • Theresa Dubiel

    BOARD MEMBER

    Total calculated
    $292,371
    From this org
    $0
    From related orgs
    $271,158
    Other
    $21,213
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $271,158 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $21,213 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $292,371 related

  • Linda Douglas

    BOARD MEMBER

    Total calculated
    $236,727
    From this org
    $0
    From related orgs
    $200,328
    Other
    $36,399
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $200,328 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $36,399 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $236,727 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
2024
Filed
10 November 2025
IRS schema version
2024v5.0
Source object
202543149349305779

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