Lake Region Electric Trust

Nonprofit profile at a glance

EIN
205114301
IRS 990-EZ coverage
2017–2024
Forms available
Form 990-EZ 2024, Form 990-N 2016
Location
Pelican Rapids, MN, USA
Phone
2188631171
Rating
96
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Foundations

Official website

Reported finances

Revenue
$149,723
Expenses
$162,435
Assets
$224,393
Liabilities
$5,000

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

Leadership & pay

11 people listed

Executive titles in this filing

  • AMANDA FULLER (EXECUTIVE DIRECTOR)

People named in this filing

  • DENISE LAYMON (TRUSTEE)
  • KRISTIE PARTAIN (TRUSTEE)
  • NICK MURDOCK (TRUSTEE)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

This corporation is organized exclusively for charitable, educational, and other purposes as specified in section 501(c)(3) of the internal revenue code, including for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the internal revenue code, or the corresponding section of any federal tax code.

What it reported doing in 2024

The general purpose of this corporation shall be to advance, promote, enhance, and engage in charitable and educational purposes, primarily in the area served by lake region electric cooperative, pelican rapids, Minnesota, which will include: the accumulation and disbursements of funds for charitable and educational purposes, including emergency energy assistance. To carry on any and all activities permitted to be carried on by a non-profit corporation under the state laws of Minnesota and the federal laws of the united states. To make distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the internal revenue code, or corresponding section of any future federal tax code.$2,500 of services were donated by lake region electric cooperative during the tax year.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 98
  • Transparency & Controls: 100
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.3%; rating input score 95

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -8.5%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 1.38; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: 42.3% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 5.3% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 12.4% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.3% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $155K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2017 to 2024
  • 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.

  • High — Sustainability: Operating margin scored 17/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.