Lake Superior Community Partnership Inc

Nonprofit profile at a glance

EIN
383399409
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Marquette, MI, USA
Phone
9062266591
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$902,623
Expenses
$880,851
Assets
$888,670
Liabilities
$508,493

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • CHRISTOPHER GERMAIN (CEO)

Highest reported compensation

  • CHRISTOPHER GERMAIN (CEO): $106,110 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To stimulate and sustain a vibrant regional economy by facilitating economic growth and prosperity.

What it reported doing in 2023

Foster commercial development Economic Development - Provide economic development and training 2023 highlights included Childcare SPARK - combined the best of business development principles, business accelerator practices, and early childhood education knowledge to assist participants in quickly standing up in-home childcare businesses all three participants now have licenses and are open four additional participants in the new hybrid version anticipated regional expansion underway Marquette County Housing Target Market Analysis - provided critical data on current and future market trends for housing including demand, demographics, and more. Having such data available removes a barrier to encouraging new housing development Marquette Sawyer Air Service Demand and Leakage Study - provided critical insight into market forces we are contending with as we re-establish and expand service at our regional airport Central U.P. Small Business Support Hub - a collaboration of seven strategic partners. The Hub will coordinate and expand access to small business support resources.

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

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.4%; rating input score 81
  • Program expense ratio: 83.2%; rating input score 83
  • 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.4%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 1.01; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.57; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 12%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 0.4% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: 8.8% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 81.4% of revenue deployed · 83.2% of spending went to programs
  • Governance: 12 of 12 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $733K in reported program spending
  • Leadership: top reported pay $106K · 13 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 13 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Key Signals

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

  • Moderate — Sustainability: Operating margin scored 45/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.