Lakeshore Advantage Foundation

Nonprofit profile at a glance

EIN
934666171
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Holland, MI, USA
Phone
6167725226
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Reported finances

Revenue
$1,452,113
Expenses
$756,000
Assets
$768,188
Liabilities
$72,075

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

Leadership & pay

6 people listed

Executive titles in this filing

  • JENNIFER OWENS (PRESIDENT)

Highest reported compensation

  • JENNIFER OWENS (PRESIDENT): $285,948 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 lessen the burdens of government by performing economic development services for allegan and ottawa counties in Michigan, and for townships and other local units of government in and around those counties that would otherwise provide such services themselves.

Operating model

Revenue model
Donor-supported. 100% 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

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. 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: 62
  • Transparency & Controls: 79
  • Accountability: 74
  • Sustainability: 61
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.2%; rating input score 52
  • Program expense ratio: 99.9%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 19th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: Pass

Sustainability

  • Operating margin: 47.9%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 1.02; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 52.2% of revenue deployed · 99.9% of spending went to programs
  • Governance: 5 of 6 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $755K in reported program spending
  • Leadership: top reported pay $286K · 6 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • 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 — Financial Efficiency: Mission deployment rate scored 52/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.