PROGRESS LAKESHORE FOUNDATION INC

EIN: 203512573 501(c)(3) Community Improvement

MANITOWOC, WI

Total Revenue
$219,891
Total Expenses
$8,676
Total Assets
$410,196
Net Assets
$410,196
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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
2006
Legal Domicile
WI
Principal Officer
ERIC SITKIEWITZ
Phone
9204820540
Tax Period
2022-01-01 to 2022-12-31

PROGRESS LAKESHORE FOUNDATION INC, founded in 2006, is a small nonprofit in the Community Improvement sector that reported $220K in total revenue in fiscal year 2022. Revenue surged 2233% from the prior year, signaling strong growth momentum. The organization ran a surplus of $211K, a strong 96% operating margin.

Mission

TO SUPPORT PROGRESS LAKESHORE, INC.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $207,500
Program Service Revenue $0
Investment Income $12,391
Other Revenue $0
TOTAL REVENUE $219,891

Expense Breakdown

Grants Paid $7,500
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $7,500
Other Expenses $1,176
TOTAL EXPENSES $8,676

Year-over-Year Comparison

2022 2021 Change
Revenue $219,891 $9,426 +22.3%
Expenses $8,676 $1,302 +5.7%
Net Income $211,215 $8,124 +25.0%
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

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Governance

Voting Members
17
Independent Members
17
Employees
N/A
Volunteers
21

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
5
$73,495
Total Directors
22
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERIC SITKIEWITZ BOARD MEMBER - VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
GREG JAGEMANN BOARD MEMBER - PRESIDENT 1.00
Officer Director
$0 $0 $0
JAMIE AULIK EX OFFICIO 0.25
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
KAREN NICHOLS EX OFFICIO 0.25
Director
$0 $0 $0
MARK HOLZMAN BOARD MEMBER 0.50
Director
$0 $0 $0
MICHAEL YEH BOARD MEMBER 0.50
Director
$0 $0 $0
MICHELLE FROEHLKE BOARD MEMBER 0.50
Director
$0 $0 $0
PATTY LEHN BOARD MEMBER - SECRETARY 1.00
Officer Director
$0 $0 $0
POLLY ABTS BOARD MEMBER 0.50
Director
$0 $0 $0
SETH ZIPPERER BOARD MEMBER 0.50
Director
$0 $0 $0
STEVE LITTLE BOARD MEMBER 0.50
Director
$0 $0 $0
SCOTT FERGUSON BOARD MEMBER 0.50
Director
$0 $0 $0
TODD GLOVER BOARD MEMBER 0.50
Director
$0 $0 $0
LISA JOHNSON 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
ROBERT SEAL BOARD MEMBER - TREASURER 1.00
Officer Director
$0 $0 $0
MICHELLE SZYMIK BOARD MEMBER 0.50
Director
$0 $0 $0
SAM GRAGE PAST PRESIDENT 0.50
Director
$0 $0 $0
JAMIE ZASTROW EXECUTIVE DIRECTOR 1.00
Officer
$0 $0 $73,495
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
2022 $219,891 $8,676 $410,196 $211,215
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