LAKEARTS FOUNDATION INC (EIN 264827328) - 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

2009

Legal Domicile

Phone

7164514004

Tax Period

2024-01-01 to 2024-12-31

LAKEARTS FOUNDATION INC, founded in 2009, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $4K in total revenue in fiscal year 2024. Revenue fell 82% from the prior year — a significant decline worth monitoring. Expenses of $6K exceeded revenue, resulting in a 31% operating deficit.

Mission

PRESENTATION OF INNOVATION IN ARTS AND EDUCATIONAL WORKSHOPS

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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 $4,413

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $4,413

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $5,773

Other Expenses $5,773

TOTAL EXPENSES $5,773

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,413	$24,637	-0.8%
Expenses	$5,773	$26,365	-0.8%
Net Income	$-1,360	$-1,728	-0.2%

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
BONNIE NELSON SCHWARTZ	VP PRODUCTION DIRECTOR	15.00	Director	$0	$0	$0
THOMAS LOHSE	TREASURER	1.00	Director	$0	$0	$0
MARGARET JOHNSON	EXECUTIVE DIRECTOR	50.00	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
2025	No data	No data	No data	No data
2024	$4,413	$5,773	$585	$-1,360
2023	$24,637	$26,365	$1,945	$-1,728
2022	$3,344	$24,130	$3,673	$-20,786
2021	$37,796	$13,344	$24,459	$24,452
2020	$115	$161	$7	$-46
2019	$2,467	$2,549	$53	$-82
2018	$11,084	$11,515	$135	$-431

LAKEARTS FOUNDATION INC