LAKES REGION SCHOLARSHIP FOUNDATION (EIN 026012236) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1956

Legal Domicile

Principal Officer

GAYLE PRICE

Phone

6035273533

Tax Period

2024-01-01 to 2024-12-31

LAKES REGION SCHOLARSHIP FOUNDATION, founded in 1956, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year. The organization ran a surplus of $556K, a strong 36% operating margin.

Mission

THE FOUNDATION AWARDS SCHOLARSHIPS TO QUALIFYING LAKES REGION STUDENTS

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $775,811

Program Service Revenue $0

Investment Income $759,552

Other Revenue $8,797

TOTAL REVENUE $1,544,160

Expense Breakdown

Grants Paid $807,605

Salaries & Benefits $127,814

Fundraising Expenses $0

Program Expenses $807,605

Other Expenses $52,567

TOTAL EXPENSES $987,986

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,544,160	$1,851,754	-0.2%
Expenses	$987,986	$824,059	+0.2%
Net Income	$556,174	$1,027,695	-0.5%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$90,758

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN SWITZER	EXECUTIVE DIRECTOR	20.00	Director	$54,923	$0	$54,923
CHRISTOPHER GUILMETT	ASSISTANT DIRECTOR	20.00	Director	$35,835	$0	$35,835
JOAN FRATES	TRUSTEE	0.50	Director	$0	$0	$0
GAYLE PRICE	PRESIDENT	0.50	Officer Director	$0	$0	$0
LAURA LARSON	TREASURER	1.00	Officer Director	$0	$0	$0
JAMES CARROLL	SECRETARY	0.50	Officer Director	$0	$0	$0
JUDY BALL	TRUSTEE	0.50	Director	$0	$0	$0
REBECCA BEANE	TRUSTEE	0.50	Director	$0	$0	$0
PHILIP BONAFIDE	TRUSTEE	0.50	Director	$0	$0	$0
COLLEEN CASS	TRUSTEE	0.50	Director	$0	$0	$0
JIM CHASE	TRUSTEE	0.50	Director	$0	$0	$0
JEAN CLARKE	TRUSTEE	0.50	Director	$0	$0	$0
JAMES DIRUBBO	TRUSTEE	0.50	Director	$0	$0	$0
KATHY GILMAN	TRUSTEE	0.50	Director	$0	$0	$0
LOIS KESSIN	TRUSTEE	0.50	Director	$0	$0	$0
RICHARD MARIANO	TRUSTEE	0.50	Director	$0	$0	$0
DON MCLELLAND	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
FREDDA OSMAN	TRUSTEE	0.50	Director	$0	$0	$0
SEMI SHIN-KENISON	TRUSTEE	0.50	Director	$0	$0	$0
MARJORY WILKINSON	TRUSTEE	0.50	Director	$0	$0	$0
PAULETTE LOUGHLIN	ADVISORY DIRECTOR	5.00	Director	$0	$0	$0
SCOTT DAVIS	TRUSTEE	0.50	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$1,544,160	$987,986	$15,992,645	$556,174
2023	$1,851,754	$824,059	$14,599,861	$1,027,695
2022	$1,894,924	$886,953	$12,360,396	$1,007,971
2021	$2,617,531	$736,157	$13,202,377	$1,881,374
2020	$938,527	$575,393	$9,790,681	$363,134
2019	$599,441	$669,480	$8,462,748	$-70,039
2018	$1,301,430	$593,535	$7,522,648	$707,895

LAKES REGION SCHOLARSHIP FOUNDATION