Laker Educational Foundation

Nonprofit profile at a glance

EIN
383717510
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Prior Lake, MN, USA
Phone
9522260063
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$23,401
Expenses
$35,339
Assets
$341,278
Liabilities
$145,900

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

Leadership & pay

14 people listed

Executive titles in this filing

  • RICHIE KUCINSKI (President)
  • RICKEETA FRANCIS (Vice President)

Highest reported compensation

  • JAYME ANDERSON (Executive Dir.): $6,590 total reported compensation
  • MARTHA WALZ (administrative assistant): $3,000 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 enhance learning for all who reside in, or are served by, the isd 719 community

What it reported doing in 2024

Providing grants and scholarships to individuals and organizations who exhibit creativity, innovation, and excellence. During 2015, the laker educational foundatin evaluated grant requests, awarding grants totalling $18743. These grants feature creative efforts, those found in educational areas not funded by operational dollars in the schools. These projects are carefully described by our teachers, compared against proposals and award for evaluation criteria.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 70% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 93
  • Accountability: 82
  • Sustainability: 35
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.7%; rating input score 72
  • Program expense ratio: 47.5%; rating input score 47
  • Fundraising efficiency: $0.8 raised per $1 spent on fundraising; rating input score 14; 14th percentile among comparable filings

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -51%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 9.66; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 27.1%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: -19% per year; rating input score 0; 18th percentile among comparable filings
  • Revenue growth: -12.3% per year; rating input score 0; 28th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 71.7% of revenue deployed · 47.5% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $17K in reported program spending
  • Leadership: top reported pay $7K · 14 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: Program expense ratio scored 47/100.
  • High — Financial Efficiency: Fundraising efficiency scored 14/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 29/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.