Lake 100 Inc

Nonprofit profile at a glance

EIN
812118399
IRS 990 coverage
2025–2025
Forms available
Form 990 2025, Form 990-EZ 2024, Form 990-N 2020
Location
Eustis, FL, USA
Rating
55
Verdict
MIXED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$204,033
Expenses
$203,528
Assets
$157,666
Liabilities
$125,200

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • Bret Jones (President)
  • James Bussbaumer (Vice President)

People named in this filing

  • Bret Jones (President)
  • James Bussbaumer (Vice President)
  • Wayne Bailey (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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We are a dedicated member organization committed to advancing economic development in Lake County. We strive to create a vibrant and thriving community through education, guidance, and leadership. Explore our initiatives, connect with local leaders, and discover how we are working together to build a prosperous future for Lake County.

What it reported doing in 2025

The Lake 100 is a member organization committed to advancing economic development by providing education, guidance and leadership.

Operating model

Revenue model
Membership-supported. 63% of the money available for current operations came from membership dues.
Distribution model
Direct operator. The filing allocates 100% 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

MIXED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 81
  • Accountability: 6
  • Sustainability: 35
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.8%; rating input score 71
  • Program expense ratio: 70.9%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 10th 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: 0%; rating input score 0; 8th 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: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.2%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.77; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 0.79; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 7.1% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 30.3% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 70.8% of revenue deployed · 70.9% of spending went to programs
  • Governance: 0 of 4 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $144K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.