Iowa Great Lakes Fishing Club
Nonprofit profile at a glance
- EIN
- 472986281
- IRS 990-EZ coverage
- 2024–2025
- Forms available
- Form 990-EZ 2025, Form 990-N 2023
- Location
- Spencer, IA, USA
- Phone
- 5073297455
- Rating
- 64
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Fisheries Resources
Reported finances
- Revenue
- $87,489
- Expenses
- $71,709
- Assets
- $48,133
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- Terry Thomsen (President)
- Scott Severied (Vice President)
People named in this filing
- Terry Thomsen (President)
- Nathan Albrecht (Treasurer)
- Barry Kruse (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-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Mission Statement To recruit youth to the sport, encouraging connection to the outdoors and fishing as a lifelong passion. Vision Statement To contribute to the environment and our communities by improving the quality of local fisheries and promoting involvement through educational and recreational activities.
What it reported doing in 2025
In 2025, we interacted with over 900 kids through various fishing activities. Each event we supplied poles, bait, and volunteers to take kids fishing. The club also gave away over 900 tackle boxes to each kid that took part in our events. Each year the club has grown its outreach in the number of events, kids impacted, and counties serviced. The expenses shown below are specific to the purchase of fishing tackle that we give away throughout the year to the kids. The club also purchases gift cards to give away to kids at our own events for prizes for a mini fishing contest we do with them. Grants and allocations are including all sponsorship dollars we received regardless of if they were used for tackle or other objectives of the club.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 81% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up and program spending has grown recently. 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: 33
- Transparency & Controls: 100
- Sustainability: 58
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 30.5%; rating input score 31
- Program expense ratio: 36.4%; rating input score 36
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 18%; rating input score 70; 70th percentile among comparable filings
- Total-asset coverage ratio: 0.67; rating input score 38; 38th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 66; 66th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 6.4% per year; rating input score 100; 64th percentile among comparable filings
- Revenue growth: 23.9% per year; rating input score 100; 91st percentile among comparable filings
- Asset growth: 30.2% per year; rating input score 100; 90th percentile among comparable filings
Details
- Where the money goes: 30.5% of revenue deployed · 36.4% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 2 filed program accomplishments · $26K in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 4 filed schedules
- Filing history: 2 filing years from 2024 to 2025
- 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 31/100.
- Moderate — Financial Efficiency: Program expense ratio scored 36/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.