Portage Lake Multi-educational Services Inc

Nonprofit profile at a glance

EIN
237310853
IRS 990 coverage
2015–2022
Forms available
Form 990 2022, Form 990-EZ 2014
Location
Houghton, MI, USA
Phone
9062813427
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$278,179
Expenses
$869,530
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • DAVID HERMANSON (PRESIDENT)

People named in this filing

  • DAVID HERMANSON (PRESIDENT)
  • RYAN MARKHAM (TREASURER)
  • DOUGLAS HEMBROFF (SECRETARY)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To operate and maintain a public recreation facility.

What it reported doing in 2022

Operate & maintain an ice arena that serves an estimated 3,000 plus hockey players, figure skaters & recreational skaters in the winter and is used for the county fair, weddings, reunions & other recreational, educational and social purposes in the off-season.

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program revenue.
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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 64
  • Sustainability: 9
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99%; rating input score 99
  • 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: 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: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -212.6%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: 24.9% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 0% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99% of spending went to programs
  • Governance: 11 of 11 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $860K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 7 filing years from 2015 to 2022
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.