Lakota Club

The information for Lakota Club is as of the organization's most recent filing in December 2020. This organization is located in Woodstock, VT and has been in existence for 86 years, following its founding in 1934.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Lakota Club's NTEE code is N50. The "N" tells us that the organization is classified along with Recreational Clubs. The "50" tells us that the organization is a Recreation & Sports organization. The NTEE describes Recreation & Sports organizations as those that make available to members and their guests facilities for recreational activities, sports and games, as well as social clubs that provide opportunities for people to meet and socialize with their peers at dances, parties, picnics, barbecues and other companionable events.

Every organization is also governed by a specific section of the Internal Revenue Code. The most common type is a 501(c)(3) organization. However, there are actually 29 different types of organizations that are identified by the Internal Revenue Code. This organization happens to be a 501(c)(7) organization. The IRS describes these organizations as Social and Recreational Clubs.

Perhaps the most accurate way to get a sense of what the organization hopes to achieve is by looking at its mission. The mission of the Lakota Club is to provide a fishing club and land maintenance.

Board Governance

The Lakota Club is well governed, with 8 voting members and 8 independent members. The organization has established a system of transparency and accountability, as board meetings are documented and committee meetings are documented. Additionally, the organization provides copies of the 990 to the board prior to filing. However, the Lakota Club does not have a conflict of interest policy, a written whistleblower policy, or a document retention policy. The organization also does not substantiate and review leadership or officer salaries. Despite these drawbacks, the Lakota Club is still well governed and committed to transparency and accountability.

Organization Growth

The nonprofit organization Lakota Club has grown over the given time period. Program Service Revenue, Investment Income, and Total Revenue all increased, while Total Expenses decreased. This shows positive growth overall, with increased support and less overhead costs.