Lake Region Corporation
Nonprofit profile at a glance
- EIN
- 450383900
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Devils Lake, ND, USA
- Phone
- 7016628681
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $10,431,684
- Expenses
- $10,096,561
- Assets
- $6,118,799
- Liabilities
- $1,465,869
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- Morgan Fee (President)
- David Oehlke (Vice President)
- Jeffry Jacobson (CEO (To Feb '25))
- Alyssa Tofsrud (Executive Director (From Feb '25))
Highest reported compensation
- Jeffry Jacobson (CEO (To Feb '25)): $165,324 total reported compensation
- Kari Kopp (RC): $130,349 total reported compensation
- Sandra Svedberg (CFO): $123,494 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Providing support for people in achieving success in their life and their community.
What it reported doing in 2024
Lake Region Corporation provides Residential support to 26 consumers and Day Support to 54 consumers. We continue to maintain and update four group homes (2 ICF and 2 MSLA) and a day support program. We are Title XIX certified at our ICF/IID Group Home and have a 4-year certification with the Council on Quality and Leadership. We also support 29 people who reside in an apartment setting, and we support 11 people who are employed in the community. We have 2 individuals in our family support program in which we provide support for the family. We are proud of our renewed contract with the City of Devils Lake for recycling.
Operating model
- Revenue model
- Other-operating. 100% of the money available for current operations came from other operating 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: 80
- Transparency & Controls: 66
- Accountability: 91
- Sustainability: 39
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 89.2%; rating input score 89
- Program expense ratio: 92.2%; rating input score 92
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd 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; 66th 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: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 3.2%; rating input score 47; 47th percentile among comparable filings
- Total-asset coverage ratio: 0.61; rating input score 20; 20th percentile among comparable filings
- Liabilities to assets ratio: 0.24; rating input score 53; 53rd percentile among comparable filings
- Officer compensation ratio: 6.5%; rating input score 39; 39th percentile among comparable filings
Growth
- Program expense growth: 11.1% per year; rating input score 100; 74th percentile among comparable filings
- Revenue growth: 8.9% per year; rating input score 100; 70th percentile among comparable filings
- Asset growth: 13.6% per year; rating input score 100; 77th percentile among comparable filings
Details
- Where the money goes: 89.2% of revenue deployed · 92.2% of spending went to programs
- Governance: 6 of 6 board members independent · 7 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $9.3M in reported program spending
- Leadership: top reported pay $165K · 11 people listed · 1 of 6 pay-setting controls reported
- Consistency: 32 of 32 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 11 filed money-flow records
- 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.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Operating margin scored 47/100.
- High — Sustainability: Total-asset coverage ratio scored 20/100.
- Moderate — Sustainability: Officer compensation ratio scored 39/100.
- Review — Sustainability: Liabilities to assets ratio scored 53/100.