PROGRESS LAKESHORE INC (EIN 200419691) - 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

2004

Legal Domicile

Principal Officer

ROBERT SEAL

Phone

9204820540

Tax Period

2024-01-01 to 2024-12-31

PROGRESS LAKESHORE INC, founded in 2004, is a small nonprofit in the Community Improvement sector that reported $299K in total revenue in fiscal year 2024. Revenue decreased 16% compared to the prior year. Expenses of $351K exceeded revenue, resulting in a 18% operating deficit.

Mission

TO ASSIST LOCAL BUSINESSES IN THEIR GROWTH IN THE MANITOWOC COUNTY AREA AND TO ATTRACT NEW BUSINESSES TO THE MANITOWOC COUNTY AREA.

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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 $276,777

Program Service Revenue $16,596

Investment Income $11,344

Other Revenue $-6,158

TOTAL REVENUE $298,559

Expense Breakdown

Grants Paid $0

Salaries & Benefits $233,189

Fundraising Expenses $0

Other Expenses $118,139

TOTAL EXPENSES $351,328

Year-over-Year Comparison

	2024	2023	Change
Revenue	$298,559	$355,082	-0.2%
Expenses	$351,328	$382,020	-0.1%
Net Income	$-52,769	$-26,938	+1.0%

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

$78,528

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT SEAL	BOARD MEMBER - VP (JAN-APR) PRESIDENT (MAY-DEC)	1.00	Officer Director	$0	$0	$0
GREG JAGEMANN	BOARD MEMBER - APRIL 2024	0.50	Director	$0	$0	$0
JUDY FERRY	EX OFFICIO	0.25	Director	$0	$0	$0
JUSTIN NICKELS	EX OFFICIO	0.25	Director	$0	$0	$0
KAITLIN BRICE	BOARD MEMBER	0.50	Director	$0	$0	$0
ABBEY QUISTORF	EX OFFICIO	0.25	Director	$0	$0	$0
MICHAEL YEH	BOARD MEMBER	0.50	Director	$0	$0	$0
MICHELLE FROEHLKE	BOARD MEMBER	0.50	Director	$0	$0	$0
SETH ZIPPERER	BOARD MEMBER - TREASURER	1.00	Officer Director	$0	$0	$0
SCOTT FERGUSON	BOARD MEMBER	0.50	Director	$0	$0	$0
TODD GLOVER	BOARD MEMBER	0.50	Director	$0	$0	$0
DOUG SCHWALBE	BOARD MEMBER	0.50	Director	$0	$0	$0
BILL SCHLEI	BOARD MEMBER	0.50	Director	$0	$0	$0
TROY ADAMS	BOARD MEMBER - VICE PRESIDENT (MAY-DEC)	1.00	Officer Director	$0	$0	$0
MICHELLE SZYMIK	BOARD MEMBER - SECRETARY	1.00	Director	$0	$0	$0
MYLEA JUIDICI	BOARD MEMBER	0.50	Director	$0	$0	$0
ERIC SITKIEWITZ	BOARD MEMBER - PRESIDENT (JAN-APR)	1.00	Officer Director	$0	$0	$0
AMY TOWNSEND	BOARD MEMBER	0.50	Director	$0	$0	$0
TANYA BOMAN	BOARD MEMBER	0.50	Director	$0	$0	$0
NICK MURRAY	BOARD MEMBER	0.50	Director	$0	$0	$0
CORY ERLANDSON	BOARD MEMBER	0.50	Director	$0	$0	$0
DAVID FUNKHOUSER	EX OFFICIO	0.25	Director	$0	$0	$0
STACY GRUNWALD	EX OFFICIO	0.25	Director	$0	$0	$0
RYAN KAUTH	BOARD MEMBER	0.50	Director	$0	$0	$0
ANGIE ULNESS	BOARD MEMBER	0.50	Director	$0	$0	$0
JAMIE ZASTROW	EXECUTIVE DIRECTOR	40.00	Officer	$78,528	$0	$78,528

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
2024	$298,559	$351,328	$279,218	$-52,769
2023	$355,082	$382,020	$347,327	$-26,938
2022	$254,689	$480,708	$381,514	$-226,019
2021	$260,560	$234,964	$547,604	$25,596
2020	$251,030	$244,987	$508,218	$6,043
2019	$286,309	$258,398	$509,215	$27,911
2018	$272,740	$276,529	$477,284	$-3,789

PROGRESS LAKESHORE INC