Lake States Dairy Center Inc
- Assets
- $6.1m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 41
- Location
- Fair Oaks, IN
- Founding
- 09/2003
- Data as of
- 12/2021
- EIN
- 35-2141464
Organization Overview
Lake States Dairy Center Inc is located in Fair Oaks, IN. The organization was established in 2003. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Lake States Dairy Center Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake States Dairy Center Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Lake States Dairy Center Inc generated $3.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $3.7m during the year ending 12/2021. 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
THE ORGANIZATION EXISTS TO IMPLEMENT A DAIRY PROMOTION, RESEARCH AND EDUCATION PROGRAM IN INDIANA. THE CENTER CHARGES A NOMINAL FEE TO THE PUBLIC AND INCLUDES EDUCATION DISPLAYS AND BUS TOURS THROUGH AN OPERATING DAIRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION EXISTS TO IMPLEMENT A DAIRY PROMOTION, RESEARCH, AND EDUCATION PROGRAM IN INDIANA. THE CENTER CHARGES A NOMINAL FEE TO THE PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Bos President | OfficerTrustee | 0 | $0 |
Joel Van Ravenswaay Vice President | OfficerTrustee | 0 | $0 |
Brad Bouma Board Member | Trustee | 0 | $0 |
Derek Herrema Board Member | Trustee | 0 | $0 |
Fred Schakel Board Member | Trustee | 0 | $0 |
Michael Mccloskey Secretary | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,616,020 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,616,020 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,616,020 |
| 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 | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $18,239 |
| Other employee benefits | $36,120 |
| Payroll taxes | $0 |
| Fees for services: Management | $529,190 |
| Fees for services: Legal | $9,854 |
| Fees for services: Accounting | $8,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $238,125 |
| Office expenses | $31,203 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $550,764 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,908 |
| Interest | $21,313 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $627,161 |
| Insurance | $156,649 |
| All other expenses | $195,984 |
| Total functional expenses | $3,657,347 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $794,094 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $57,303 |
| 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 | $159,776 |
| Net Land, buildings, and equipment | $5,061,968 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,073,141 |
| Accounts payable and accrued expenses | $260,781 |
| 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 | $1,329,242 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,590,023 |
| Net assets without donor restrictions | $4,483,118 |
| Net assets with donor restrictions | $0 |
| 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 | $6,073,141 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lake States Dairy Center Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
John Ruan Foundation Trust Urbandale, IA PURPOSE: GENERAL OPERATING | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Johnny Morris Wonders Of Wildlife Foundation Springfield, MO | $84,645,334 | $34,583,902 |
Adler Planetarium Chicago, IL | $62,060,707 | $24,242,958 |
Milwaukee Public Museum Inc Milwaukee, WI | $17,354,362 | $14,883,405 |
National Corvette Museum Foundation Inc Bowling Green, KY | $80,229,990 | $15,403,313 |
Eiteljorg Museum Of American Indians And Western Art Inc Indianapolis, IN | $95,582,001 | $21,664,008 |
Kentucky Derby Museum Corporation Louisville, KY | $35,033,343 | $10,633,125 |
Margaret Woodbury Strong Museum Charitable Trust Chicago, IL | $73,980,694 | $7,829,381 |
Peoria Riverfront Museum Peoria, IL | $12,190,456 | $4,223,811 |
Unlimited Opportunities Inc Boonville, MO | $6,714,259 | $4,941,880 |
Muhammad Ali Museum And Education Louisville, KY | $31,131,591 | $4,563,188 |
Lake States Dairy Center Inc Fair Oaks, IN | $6,073,141 | $3,616,020 |
Dusable Museum Of African American History Inc Chicago, IL | $17,602,670 | $3,496,098 |