LAKESIDE CENTER PUBLIC IMPROVEMENT… - Form 990 Financial Data

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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

Principal Officer

COREY WIEMANN

Phone

3144290400

Tax Period

2024-01-01 to 2024-12-31

LAKESIDE CENTER PUBLIC IMPROVEMENT COMPANY, founded in 2009, is a community nonprofit that reported $2.6M in total revenue in fiscal year 2024. The organization ran a surplus of $502K, a strong 20% operating margin.

Mission

PUBLIC IMPROVEMENTS FOR LAKESIDE CENTER.

Program Service Accomplishments

Program 1

THE ORGANIZATION HAS FUNDING AND REIMBURSEMENT AGREEMENTS WITH VARIOUS ENTITIES RELATED TO THE FINANCING OF CONSTRUCTION, ACQUISITION, INSTALLATION, OPERATIONS AND MAINTENANCE OF PUBLIC IMPROVEMENTS WITHIN THE BOUNDARIES OF LAKESIDE CENTER. DURING 2024, THE PIC REIMBURSED THESE ENTITIES A TOTAL OF $2,020,991 FOR CONSTRUCTED PUBLIC IMPROVEMENTS.

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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 $0

Program Service Revenue $2,575,210

Investment Income $0

Other Revenue $0

TOTAL REVENUE $2,575,210

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $2,072,816

TOTAL EXPENSES $2,072,816

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,575,210	$2,513,088	+0.0%
Expenses	$2,072,816	$2,542,054	-0.2%
Net Income	$502,394	$-28,966	-18.3%

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

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
COREY WIEMANN	PRESIDENT/TREASURER	0.00	Officer Director	$0	$0	$0
KYLE BUMBERRY	VICE PRESIDENT	0.00	Officer 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	No data	No data	No data	No data
2024	$2,575,210	$2,072,816	$1,186,509	$502,394
2023	$2,513,088	$2,542,054	$501,709	$-28,966
2022	$2,571,447	$2,495,217	$526,545	$76,230
2021	$2,517,322	$2,514,205	$529,865	$3,117
2020	$2,532,190	$2,628,421	$523,994	$-96,231
2019	$2,418,808	$2,201,539	$621,762	$217,269
2018	$2,366,886	$2,236,080	$520,938	$130,806

LAKESIDE CENTER PUBLIC IMPROVEMENT COMPANY