Lake Sullivan Association Inc

Nonprofit profile at a glance

EIN
416173302
IRS 990 coverage
2020–2025
Forms available
Form 990 2025, Form 990-T 2025
Location
Hillman, MN, USA
Phone
3202773936
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Pollution Abatement and Control Services

Reported finances

Revenue
$70,433
Expenses
$33,620
Assets
$86,270
Liabilities
$3,995

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

Leadership & pay

3 people listed

Executive titles in this filing

  • RON PETERSON (PRESIDENT)

People named in this filing

  • ANTHONY ELLINGSON (SECRETARY/TR)
  • RON PETERSON (PRESIDENT)
  • CHAD RENTZ (VICE PRESIDE)

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

Preservation and protection of the lake environment.

What it reported doing in 2025

Incurred expenses for the preservation and protection of lake sullivan and surrounding areas.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 62
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.7%; rating input score 48
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 52.3%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 2.57; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: -0.8% per year; rating input score 0; 45th percentile among comparable filings
  • Revenue growth: -0.2% per year; rating input score 0; 56th percentile among comparable filings
  • Asset growth: 2.9% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 47.7% of revenue deployed · 100% of spending went to programs
  • Governance: 110 of 110 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $34K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2020 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 48/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.