Elk-skegemog Lakes Association

Nonprofit profile at a glance

EIN
237353971
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2022
Location
Elk Rapids, MI, USA
Phone
2312675099
Rating
43
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$234,488
Expenses
$121,298
Assets
$305,180
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • George Seifried (President)
  • John Spevacek (Vice President)

People named in this filing

  • George Seifried (President)
  • John Spevacek (Vice President)
  • Beth Wiesenhauer (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Dedicated to protecting and preserving Elk and Skegemog Lakes. Prevent control or eradicate invasive species. Identify pollution sources educate with events and communications. Collaborate with other committed organizations.

What it reported doing in 2024

Communications - Newsletter. Inform riparians of what is happening with regards to the health of our waters.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 5
  • Transparency & Controls: 72
  • Accountability: 64
  • Sustainability: 79
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 3.7%; rating input score 4
  • Program expense ratio: 7.1%; rating input score 7
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 80%; rating input score 80; 1st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 48.3%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 2.52; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 65.2% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 45.5% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 3.7% of revenue deployed · 7.1% of spending went to programs
  • Governance: 20 of 20 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $9K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 36 of 41 current checks pass · 5 findings to review
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 4/100.
  • High — Financial Efficiency: Program expense ratio scored 7/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX FeesForServicesAccounting column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX FeesForServicesLegal column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Insurance column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.