Progress Lakeshore Inc
- Assets
- $547.6k
- Revenue
- $260.6k
- Investments
- $0.0
- Employees
- 6
- Location
- Manitowoc, WI
- Founding
- 12/2005
- Data as of
- 12/2021
- EIN
- 20-0419691
Organization Overview
Progress Lakeshore Inc is located in Manitowoc, WI. The organization was established in 2005. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Progress Lakeshore Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Progress Lakeshore Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Progress Lakeshore Inc generated $260.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $235.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST LOCAL BUSINESSES IN THEIR GROWTH IN THE MANITOWOC COUNTY AREA AND TO ATTRACT NEW BUSINESSES TO THE MANITOWOC COUNTY AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO LEAD DIVERSIFIED ECONOMIC AND COMMUNITY DEVELOPMENT EFFORTS IN ORDER TO IMPROVE THE LONG-TERM PROSPERITY OF THE BUSINESS COMMUNITY AND RESIDENTS OF MANITOWOC COUNTY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jamie Zastrow Executive Director | Officer | 40 | $53,728 |
Dave Coggins Treasurer | OfficerTrustee | 1 | $0 |
Greg Jagemann Vice President | OfficerTrustee | 1 | $0 |
Michelle Froehlke Secretary | OfficerTrustee | 0.5 | $0 |
Sam Grage President | OfficerTrustee | 1 | $0 |
Cathie Kocourek Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $23,625 |
| Related organizations | $0 |
| Government grants | $37,808 |
| All other contributions, gifts, grants, and similar amounts not included above | $199,278 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $260,711 |
| Total Program Service Revenue | $4,038 |
| Investment income | $2,051 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,300 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$9,540 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $260,560 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $53,728 |
| Other salaries and wages | $96,910 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,095 |
| Payroll taxes | $11,582 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $904 |
| Fees for services: Accounting | $11,946 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $100 |
| Advertising and promotion | $1,374 |
| Office expenses | $10,091 |
| Information technology | $2,767 |
| Royalties | $0 |
| Occupancy | $20,570 |
| Travel | $1,842 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,289 |
| Insurance | $2,598 |
| All other expenses | $261 |
| Total functional expenses | $234,964 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $160,155 |
| Savings and temporary cash investments | $363,053 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,917 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,400 |
| Net Land, buildings, and equipment | $16,738 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,341 |
| Total assets | $547,604 |
| Accounts payable and accrued expenses | $9,473 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,473 |
| Net assets without donor restrictions | $537,631 |
| Net assets with donor restrictions | $500 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $547,604 |
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