Shadow Lake Inc

Nonprofit profile at a glance

EIN
221623387
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Franklin Lakes, NJ, USA
Phone
2016921600
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$206,850
Expenses
$235,783
Assets
$189,859
Liabilities
$271,840

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

Leadership & pay

7 people listed

Executive titles in this filing

  • MICHELE SCHUELLER-KLIMA (Vice President)
  • SCOTT SHIELDS (President)

People named in this filing

  • ROSARIO CORSO (Trustee)
  • CARA DOOLEY (Trustee)
  • MEAGAN GIUNTA (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide members and guests with outdoor lake facilities.

What it reported doing in 2024

Provide swimming, camping and outdoor facilities for the community.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 6
  • Sustainability: 27
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.1%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th 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: -14%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 0.81; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 1.43; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 0.2% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: -1.2% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: -17% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.1% of spending went to programs
  • Governance: 0 of 7 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $231K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • 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: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 18/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.