Lake of the Woods Tourism

Nonprofit profile at a glance

EIN
990586166
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Baudette, MN, USA
Phone
2186341174
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$437,437
Expenses
$502,463
Assets
$510,410
Liabilities
$117

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JOSEPH HENRY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JOSEPH HENRY (EXECUTIVE DIRECTOR): $121,069 total reported compensation

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

Overview

Mission

To inspire and facilitate memorable and enriching travel experiences that foster cultural understanding, economic growth, and environmental stewardship in the local communities surrounding lake of the woods Minnesota.

What it reported doing in 2024

Advertising and promotion through brochures, newspapers, internet web sites visitor guides and trade shows. We received our income from lodging tax in our area.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
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

SUPPORTED - 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: 88
  • Transparency & Controls: 90
  • Accountability: 21
  • Sustainability: 27
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.5%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 7th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -14.9%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 1.02; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 100% of revenue deployed · 96.5% of spending went to programs
  • Governance: 0 of 6 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $485K in reported program spending
  • Leadership: top reported pay $121K · 7 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • 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.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 18/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.