5 LAKES INSTITUTE

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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

2007

Legal Domicile

Principal Officer

KATHLEEN GALLAGHER

Phone

4142698330

Tax Period

2024-04-01 to 2025-03-31

5 LAKES INSTITUTE, founded in 2007, is a small nonprofit in the Science & Technology sector that reported $158K in total revenue in fiscal year 2024. Revenue fell 61% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $38K, a strong 24% operating margin.

Mission

5 LAKES INSTITUTE IS A CURATED NETWORK OF ENTREPRENEURS, RESEARCH ORGANIZATIONS, INVESTORS, AND BUSINESS AND GOVERNMENT LEADERS THAT DRIVES AND AMPLIFIES DIVERSE AND INCLUSIVE TECH-ENABLED GDP GROWTH IN THE MIDWEST AND GREAT LAKES REGION.

Program Service Accomplishments

Program 1

Expenses: $84,584 Revenue: $158,500

-SUCCESSFULLY ORGANIZED IN PARTNERSHIP WITH MIDWEST RESEARCH UNIVERSITY NETWORK (MRUN)SIX VIRTUAL PROGRAMS THAT: FACILITATED NEARLY 600 ONE-ON-ONE MEETINGS BETWEEN REGIONAL RESEARCH ORGANIZATIONS AND INVESTORS. ATTRACTED OVER 400 KEY PEOPLE FROM COMPANIES, VENTURE CAPITAL FIRMS, UNIVERSITIES,AND GOVERNMENT TO LEARN FROM OUR PROGRAMMING. EDUCATED OUR COALITION MEMBERS ABOUT INNOVATION RESOURCES AT 14 ORGANIZATIONS FROM TEN DIFFERENT AREAS OF OUR REGION. PRODUCED THREE NEWSLETTERS TO UPDATE/EDUCATE OUR COALITION ABOUT REGIONAL INNOVATION IN THE COMPUTING, FOOD & AG TECH AND HUMAN HEALTH AREAS. SUPPORTED THE EXECUTIVE DIRECTORS COLUMNS FOR THE MILWAUKEE JOURNAL SENTINEL TO EDUCATE ABOUT TECHNOLOGY AND INNOVATION ISSUES IN THE GREAT LAKES REGION. SUPPORTED SEASON 4 OF THE EXECUTIVE DIRECTORS MIDWEST MOXIE PROGRAM (AVAILABLE AT WUWM AND PODCAST PLATFORMS), WHICH SHOWCASES SUCCESSFUL FOUNDERS IN THE REGION AND PROVIDES EDUCATIONAL OPPORTUNITIES FOR EMERGING ENTREPRENEURS. KICKED OFF AN INITIATIVE TO GROW OUR REGIONS FUSION ENERGY ECOSYSTEM BY EDUCATING AND SUPPORTING STAKEHOLDERS; ADDED TWO 5 LAKES FELLOWS TO SUPPORT THESE EFFORTS. HELD A MIXER/RECEPTION FOR 100+ SCIENTISTS, FUSION AND SUPPLY CHAIN COMPANIES, INVESTORS AND OTHERS FOLLOWING THE TECHNOLOGY OF FUSION ENERGY (TOFE) MEETING.

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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 $158,500

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $158,500

Expense Breakdown

Grants Paid $0

Salaries & Benefits $96,981

Fundraising Expenses $18,125

Program Expenses $84,584

Other Expenses $23,853

TOTAL EXPENSES $120,834

Year-over-Year Comparison

	2024	2023	Change
Revenue	$158,500	$410,500	-0.6%
Expenses	$120,834	$399,084	-0.7%
Net Income	$37,666	$11,416	+2.3%

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

$87,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN BYRNES	CHAIRMAN	10.00	Officer Director	$0	$0	$0
MARK EHRMANN	SECRETARY	2.00	Officer Director	$0	$0	$0
RANDALL KIRK	BOARD MEMBER	1.00	Director	$0	$0	$0
KYLE CRUM	BOARD MEMBER	1.00	Director	$0	$0	$0
KATHLEEN GALLAGHER	EXECUTIVE DI	40.00	Director	$87,400	$0	$87,400
TIM HONAKER	BOARD MEMBER	5.00	Director	$0	$0	$0
KATHY HUST	BOARD MEMBER	1.00	Director	$0	$0	$0
DAN BRODERICK	BOARD MEMBER	1.00	Director	$0	$0	$0
GORDON NAMENI	BOARD MEMBER	1.00	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	$158,500	$120,834	$149,872	$37,666
2024	$410,500	$399,084	$116,413	$11,416
2023	$162,000	$122,895	$100,790	$39,105
2022	$176,000	$297,587	$65,088	$-121,587
2021	$469,246	$426,388	$219,872	$42,858
2020	$481,930	$436,318	$140,414	$45,612