LAKE AREA DEVELOPMENT CORPORATION (EIN 161492087) - 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

1995

Legal Domicile

Principal Officer

ROBERT P DOEBLIN

Phone

3157898010

Tax Period

2023-01-01 to 2023-12-31

LAKE AREA DEVELOPMENT CORPORATION, founded in 1995, is a community nonprofit in the Housing & Shelter sector that reported $1.4M in total revenue in fiscal year 2023. Revenue surged 133% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.2M, a strong 81% operating margin.

Mission

LOW-INCOME HOUSING.

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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 (2023)

Revenue Breakdown

Contributions & Grants $8,975

Program Service Revenue $210,379

Investment Income $10

Other Revenue $1,195,681

TOTAL REVENUE $1,415,045

Expense Breakdown

Grants Paid $0

Salaries & Benefits $62,973

Fundraising Expenses $0

Program Expenses $135,885

Other Expenses $199,570

TOTAL EXPENSES $262,543

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,415,045	$606,368	+1.3%
Expenses	$262,543	$568,823	-0.5%
Net Income	$1,152,502	$37,545	+29.7%

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

N/A

Volunteers

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOMINICK VEDORA	PRESIDENT	2.00	Officer Director	$0	$0	$0
PHIL BECKLEY	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
JOHN PARROTT JR	SECRETARY	2.00	Officer Director	$0	$0	$0
JIM VEDORA	TREASURER	2.00	Officer Director	$0	$0	$0
ROBERT P DOEBLIN	C.E.O.	2.00	Officer	$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
2023	$1,415,045	$262,543	$2,621,654	$1,152,502
2022	$606,368	$568,823	$2,717,301	$37,545
2021	$526,387	$577,208	$1,579,833	$-50,821
2020	$530,988	$567,149	$1,623,222	$-36,161
2019	$515,833	$600,434	$1,737,553	$-84,601
2018	$536,001	$556,451	$1,863,245	$-20,450

LAKE AREA DEVELOPMENT CORPORATION