Lake Trust Credit Union Foundation
- Assets
- $768.9k
- Revenue
- $344.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Brighton, MI
- Founding
- 10/2012
- Data as of
- 12/2021
- EIN
- 45-5332078
Organization Overview
Lake Trust Credit Union Foundation is located in Brighton, MI. The organization was established in 2012. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Trust Credit Union Foundation 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 Trust Credit Union Foundation generated $344.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.8% each year . All expenses for the organization totaled $126.2k during the year ending 12/2021. While expenses have increased by 21.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Lake Trust Credit Union Foundation has awarded 22 individual grants totaling $212,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE LAKE TRUST CREDIT UNION FOUNDATION'S PRIMARY PURPOSE IS TO CREATE HEALTHY AND VIBRANT COMMUNITIES THROUGH EDUCATING, ENGAGING AND GIVING IN THE AREAS OF ECONOMIC EMPOWERMENT AND COMMUNITY ENHANCEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAKE TRUST CREDIT UNION FOUNDATION AWARDS GRANTS TO ORGANIZATIONS WHOSE PURPOSE AND CORE VALUE IS TO MAKE A DIFFERENCE BY INVESTING IN COMMUNITY DEVELOPMENT, HEALTH AND THE ARTS, CREATING VIBRANT NEIGHBORHOODS, A STRONGER MICHIGAN, AND A BETTER WORLD. SPECIFICALLY, THE LAKE TRUST CREDIT UNION FOUNDATION AWARDED THREE GRANTS TOTALING $23,000. THIS WAS PROVIDED TO ASSIST WITH VARIOUS PROGRAMS IN MICHIGAN FOR HOUSING, INVESTING, AND TEEN PROGRAMS.
THE LAKE TRUST CREDIT UNION FOUNDATION AWARDED SIX GRADUATING MICHIGAN HIGH SCHOOL SENIORS A VARYING DOLLAR AMOUNT SCHOLARSHIP TOTALING $30,000 TO ATTEND A MICHIGAN UNIVERSITY, COLLEGE OR VOCATIONAL SCHOOL.
THE LAKE TRUST CREDIT UNION FOUNDATION AWARDED COMMUNITY ORGANIZATIONS $55,000, COMMUNITY FOOD BANKS $9,750 AND ASSISTANCE PROGRAMS THROUGHOUT MID-MICHIGAN A TOTAL OF $1,516. THIS WILL HELP TO SUPPORT COMMUNITY DEVELOPMENT AND FAMILIES IN NEED WITH FOOD AND PERSONAL SUPPLIES THROUGHOUT THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raynor Zillgitt Board Of Directors, Secretary | OfficerTrustee | 0.5 | $0 |
Jane Kile - Part Year Board Of Directors, Vice President | OfficerTrustee | 0.5 | $0 |
David Snodgrass Board Of Directors, President | OfficerTrustee | 0.5 | $0 |
Brandalynn Winchester-Middlebrook Board Of Directors, Treasurer | OfficerTrustee | 2 | $0 |
Theresa Dubiel Board Of Directors | Trustee | 0.5 | $0 |
Linda Douglas Board Of Directors | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $96,550 |
| Related organizations | $140,277 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $113,214 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $350,041 |
| Total Program Service Revenue | $0 |
| Investment income | $103 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$5,529 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $344,615 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $89,266 |
| Grants and other assistance to domestic individuals. | $30,000 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $500 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $954 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| All other expenses | $5,468 |
| Total functional expenses | $126,188 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $768,891 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $768,891 |
| Accounts payable and accrued expenses | $5,000 |
| 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 | $5,000 |
| Net assets without donor restrictions | $641,024 |
| Net assets with donor restrictions | $122,867 |
| 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 | $768,891 |
Grants Awarded
Over the last fiscal year, Lake Trust Credit Union Foundation has awarded $66,500 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Pontiac, MI PURPOSE: COMMUNITY AID | $10,000 |
Midland, MI PURPOSE: COMMUNITY AID | $10,000 |
Ypsilanti, MI PURPOSE: COMMUNITY AID | $10,000 |
Ypsilanti, MI PURPOSE: COMMUNITY AID | $10,000 |
Holland, MI PURPOSE: COMMUNITY AID | $10,000 |
Detroit, MI PURPOSE: COMMUNITY AID | $8,500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Lake Trust Credit Union Foundation has recieved totaling $140,305.
| Awarding Organization | Amount |
|---|---|
Credit Unions Chartered In The State Of Michigan Brighton, MI PURPOSE: COMMUNITY ASSISTANCE LAKE TRUST EMPLOYEE ASSISTANCE | $140,277 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $28 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Macomb Oakland Regional Center Inc Clinton Township, MI | $34,712,756 | $87,127,217 |
Ohio Living Holdings Westerville, OH | $9,052,370 | $48,267,325 |
Newcap Inc Oconto, WI | $18,167,211 | $33,388,655 |
Life Circles Muskegon, MI | $20,352,108 | $31,605,005 |
Independence First Inc Milwaukee, WI | $17,159,948 | $27,006,891 |
Adec Inc Bristol, IN | $35,707,130 | $22,045,756 |
Training & Treatment Innovations Inc Oxford, MI | $4,219,988 | $19,202,444 |
Michigan Community Services Inc Swartz Creek, MI | $9,785,401 | $17,419,566 |
Buckeye Plain Ministry Group Middlefield, OH | $4,397,089 | $15,353,471 |
Bridgeway Academy Columbus, OH | $11,163,009 | $12,055,177 |
Community Living Alliance Inc Madison, WI | $5,997,811 | $9,392,799 |
Consumer Services Inc Mason, MI | $3,818,010 | $9,133,531 |