Lake Superior Community Ptnrshp Foundation

Nonprofit profile at a glance

EIN
383566907
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Marquette, MI, USA
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Job Training

Official website

Reported finances

Revenue
$30,899
Expenses
$46,353
Assets
$879,629
Liabilities
$791,115

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Christopher Germain (Vice President)
  • Dan Mead (President)

Highest reported compensation

  • Christopher Germain (Vice President): $104,521 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote and advance economic and workforce development by working with area business leaders to determine workforce needs and appropriate use of resources. To promote and advance education by working for systemic change in area school systems to address workforce needs in the community. To promote and advance cultural and recreational activities

What it reported doing in 2024

Chairmans Circle Grants - Provided grants for workforce and economic development

Operating model

Revenue model
Donor-supported. 94% 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. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 94
  • Accountability: 79
  • Sustainability: 39
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.6%; rating input score 91
  • 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -50%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 18.98; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 17.5%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: -12.8% per year; rating input score 0; 25th percentile among comparable filings
  • Revenue growth: -11.9% per year; rating input score 0; 29th percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.6% of spending went to programs
  • Governance: 8 of 8 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $42K in reported program spending
  • Leadership: top reported pay $105K · 8 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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: 4 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 29/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.