Lake States Dairy Center Inc

Nonprofit profile at a glance

EIN
352141464
IRS 990 coverage
2015–2025
Forms available
Form 990 2025
Location
Fair Oaks, IN, USA
Phone
2193945325
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Museum, Museum Activities

Official website

Reported finances

Revenue
$5,719,381
Expenses
$4,954,629
Assets
$4,269,707
Liabilities
$1,278,270

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

Leadership & pay

5 people listed

People named in this filing

  • STEVE BOS (BOARD MEMBER)
  • JOEL VAN RAVENSWAAY (BOARD MEMBER)
  • MALCOLM DEKRYGER (BOARD MEMBER)

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

The organization exists to implement a dairy promotion, research and education program in Indiana. The center charges a nominal fee to the public and includes education displays and bus tours through an operating dairy.

What it reported doing in 2025

The organization exists to implement a dairy promotion, research, and education program in Indiana. The center charges a nominal fee to the public.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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 - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 41
  • Transparency & Controls: 85
  • Accountability: 18
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 43.3%; rating input score 43
  • Program expense ratio: 50%; rating input score 50
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 7th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • 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: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 13.4%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 0.86; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 43.3% of revenue deployed · 50% of spending went to programs
  • Governance: 0 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.5M in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 10 filing years from 2015 to 2025
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 43/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 50/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.