LAKE SUPERIOR COMMUNITY DEVELOPMENT CORPORATION

EIN: 364616294 501(c)(3) Human Services

Lanse, MI

Total Revenue
$906,454
Total Expenses
$581,956
Total Assets
$4,378,062
Net Assets
$3,084,286
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
MI
Principal Officer
ROBERT CURTIS
Tax Period
2023-10-01 to 2024-09-30

LAKE SUPERIOR COMMUNITY DEVELOPMENT CORPORATION, founded in 2008, is a small nonprofit in the Human Services sector that reported $906K in total revenue in fiscal year 2023. Revenue fell 25% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $324K, a strong 36% operating margin.

Mission

COMMUNITY DEVELOPMENT ACTIVITIES IMPROVING THE SOCIAL AND ECONOMIC CONDITIONS OF ECONOMICALLY DISADVANTAGED PERSONS AND RESIDENTS OF DISTRESSED COMMUNITIES. ACTIVITIES INCLUDE THE PROVISION OF FINANCIAL PRODUCTS, DEVELOPMENT SERVICES, AND/OR FINANCIAL PROGRAMS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $677,698
Program Service Revenue $223,010
Investment Income $5,746
Other Revenue $0
TOTAL REVENUE $906,454

Expense Breakdown

Grants Paid $0
Salaries & Benefits $178,984
Fundraising Expenses $0
Program Expenses $526,992
Other Expenses $402,972
TOTAL EXPENSES $581,956

Year-over-Year Comparison

2023 2022 Change
Revenue $906,454 $1,203,052 -0.2%
Expenses $581,956 $332,711 +0.7%
Net Income $324,498 $870,341 -0.6%
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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Governance

Voting Members
6
Independent Members
6
Employees
3
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
3
$1,100
Total Directors
6
$2,100
Key Employees
3
$146,912
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
EDWARD EDWARDS EXECUTIVE DIRECTOR 40.00
Key Emp Highest
$82,384 $0 $82,384
SAM LOONSFOOT PROGRAMS COORDINATOR 30.00
Key Emp
$38,168 $0 $38,168
BRITTANY PERRIGO FINANCE COORDINATOR 35.00
Key Emp
$26,360 $0 $26,360
SARAH SMITH DIRECTOR 1.00
Director
$500 $0 $500
KEVIN PERRAULT DIRECTOR 1.00
Officer Director
$400 $0 $400
ROBERT CURTIS CHAIRMAN 1.00
Officer Director
$350 $0 $350
GRETCHEN EMERY DIRECTOR 1.00
Officer Director
$350 $0 $350
LILY MARCOTTE DIRECTOR 1.00
Director
$250 $0 $250
KEITH ROLOF DIRECTOR 1.00
Director
$250 $0 $250
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 $906,454 $581,956 $4,378,062 $324,498
2023 $1,203,052 $332,711 $4,798,199 $870,341
2022 $677,815 $301,653 $3,297,163 $376,162
2021 $1,157,658 $512,624 $2,505,790 $645,034
2020 $342,139 $317,062 $1,787,772 $25,077
2019 $313,441 $344,452 $1,490,834 $-31,011
2018 $346,055 $823,840 $1,462,626 $-477,785
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