Lake Panorama Association

Nonprofit profile at a glance

EIN
426139366
IRS 990 coverage
2021–2025
Forms available
Form 990 2025
Location
Panora, IA, USA
Phone
6417552301
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$7,457,116
Expenses
$7,442,419
Assets
$17,906,285
Liabilities
$7,701,523

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

Leadership & pay

11 people listed

Executive titles in this filing

  • DAVID FINNESETH (PRESIDENT)
  • SUSAN THOMPSON (VICE PRESIDENT)

Highest reported compensation

  • JOHN RUTLEDGE (GENERAL MANAGER - LPA): $250,906 total reported compensation
  • DANNA KRAMBEER (LPA-CONTROLLER): $122,449 total reported compensation
  • ROYCE SHAFFER (GENERAL MANAGER-LPN): $107,071 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the lake panorama association shall be:1. To provide a means whereby the streets and those areas within the project designated as parks or pedestrian easements on the plats thereof and such other recreational facilities (see sch o.)within the project as may be conveyed to the association may be operated, maintained, repaired, and replaced.2. To provide a means for the promulgation and enforcement of all regulations necessary to the governing of the use and enjoyment of such streets, parks, pedestrian easements, and such other recreational facilities within the project as may be conveyed to the association.3. To work with government agencies to promote efficient fire protection, police protection, utility regulation, pollution control and water conservation.4. To provide for the acquisition and management of real estate and personal property for the mutual benefit of the members of the lake panorama subdivision.

What it reported doing in 2025

Responsible for silt removal for the purpose of the improvement of lake and water quality. The contract with the lake panorama rural improvement zone (a tax-increment financing district) was for approximately 130,000 cubic yards of silt. Over 200 square miles of land drains into the lake, bringing silt along with it.security - provide a safe and secure environmentdam - control operationsrecreational facilities

Operating model

Revenue model
Earned-program. 75% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 66
  • Accountability: 91
  • Sustainability: 39
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.2%; rating input score 80
  • Program expense ratio: 82.6%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.2%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 2.41; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 7.8%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 6.3% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 3.9% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: -0.1% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 80.2% of revenue deployed · 82.6% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $6.1M in reported program spending
  • Leadership: top reported pay $251K · 11 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $446K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2021 to 2025
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.