Lakeside Legacy Foundation

Nonprofit profile at a glance

EIN
331006907
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Crystal Lake, IL, USA
Phone
8154558000
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$1,179,253
Expenses
$1,118,495
Assets
$3,126,246
Liabilities
$565,246

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

Leadership & pay

12 people listed

Executive titles in this filing

  • JAY LECOQUE (PRESIDENT)

People named in this filing

  • MURRAY CRABTREE (TREASURER)
  • BOB FLECK (MEMBER)
  • JEFF FOX (MEMBER)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The foundation's mission is to preserve and protect the dole mansion and lakeside property for community use in a natural and historic setting

What it reported doing in 2024

Farmers market at the dole is an indoor and outdoor market experience that began in 2021. The market supports the preservation efforts of the historic property while supporting local small businesses, musicians and other artists. It also features children's attractions and live music. The program serves between 1500-3000 guests in the summer outdoors and between 500-750 people indoors during november-april.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 58
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.4%; rating input score 83
  • Program expense ratio: 76.4%; rating input score 76
  • Fundraising efficiency: $34.87 raised per $1 spent on fundraising; rating input score 71; 71st 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.2%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 2.8; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 0.4% per year; rating input score 100; 19th percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 1.4% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: 83.4% of revenue deployed · 76.4% of spending went to programs
  • Governance: 12 of 12 board members independent · 7 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $855K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 50/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.