Lake Washington Improvement Association Inc
- Assets
- $346.9k
- Revenue
- $56.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Mankato, MN
- Founding
- 01/1992
- Data as of
- 06/2022
- EIN
- 41-1657571
Organization Overview
Lake Washington Improvement Association Inc, operating under the name Lawful Gambling Fund License 03528, is located in Mankato, MN. The organization was established in 1992. According to its NTEE Classification (C30) the organization is classified as: Natural Resources Conservation & Protection, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lawful Gambling Fund License 03528 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 06/2022, Lawful Gambling Fund License 03528 generated $56.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (22.0%) each year. All expenses for the organization totaled $97.9k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (17.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE PAGE 2, PART III, LINE 1.
Describe the Organization's Program Activity:
TO CONTROL AQUATIC INVASIVE SPECIES IN THE LAKE.
LAWFUL PURPOSE DONATIONS AS AUTHORIZED BY MN STATUTES AS REPORTED ON SCHEDULE G FOR 104,541.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Trisha Duncan Vice Preside | Officer | 1 | $0 |
Gary Gavin Treasurer | Officer | 1 | $0 |
Jim Folden Secretary | Officer | 1 | $0 |
Jason Femrite President | Officer | 1 | $0 |
Kim Schmalzriedt Director | Trustee | 1 | $0 |
Spencer Bradley Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,283 |
| Fundraising events | $0 |
| Related organizations | $45,000 |
| Government grants | $5,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $794 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $56,077 |
| Total Program Service Revenue | $0 |
| Investment income | $1,154 |
| 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 | -$557 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $56,849 |
| 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 | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $91,106 |
| Advertising and promotion | $210 |
| Office expenses | $1,835 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $440 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $745 |
| All other expenses | $0 |
| Total functional expenses | $97,882 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $139,446 |
| Savings and temporary cash investments | $207,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $143 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $291 |
| Total assets | $346,880 |
| Accounts payable and accrued expenses | $0 |
| 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 | $553 |
| Total liabilities | $553 |
| Net assets without donor restrictions | $346,327 |
| 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 | $346,880 |
Grants Awarded
Over the last fiscal year, Lake Washington Improvement Association Inc has awarded $96,850 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LAKE WASHINGTON IMPROVEMENT ASSOCIATION | | | $65,000 |
OTHER MISCELLANEOUS | | | $31,850 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Whiterock Conservancy Coon Rapids, IA | $23,838,581 | $11,211,658 |
Whitetails Unlimited Inc Sturgeon Bay, WI | $13,644,275 | $8,358,134 |
Bluegreen Alliance Foundation Minneapolis, MN | $12,222,857 | $7,842,420 |
Environmental Initiative Minneapolis, MN | $4,533,622 | $7,299,433 |
Trees Forever Inc Marion, IA | $2,919,992 | $4,619,132 |
Tri-Lakes Sportsmens Club Inc Lonsdale, MN | $173,320 | $2,697,974 |
Northeastern Minnesotans For Wilderness Ely, MN | $1,679,993 | $2,959,413 |
Natural Resources Foundation Of Wisconsin Inc Madison, WI | $20,136,945 | $3,445,267 |
Rooted Wi Inc Madison, WI | $3,633,286 | $971,353 |
Deb & Jeff Hansen Foundation West Des Moines, IA | $7,393,305 | $2,047,371 |
Wiscorps Inc La Crosse, WI | $207,552 | $1,429,259 |
Resource Conservation And Development For Northeast Iowa Inc Postville, IA | $1,671,967 | $1,256,577 |