GLEN LAKE ASSOCIATION INC

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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

1954

Legal Domicile

Principal Officer

DAVID CHENEY

Phone

2313347645

Tax Period

2023-01-01 to 2023-12-31

GLEN LAKE ASSOCIATION INC, founded in 1954, is a small nonprofit that reported $480K in total revenue in fiscal year 2023. Revenue fell 68% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $195K, a strong 41% operating margin.

Mission

THE ASSOCIATION IS DEDICATED TO THE PROTECTION, PRESERVATION AND CONTINUED IMPROVEMENT OF THE BEAUTIFUL AND UNIQUE GLEN LAKE AREA IN LEELANAU COUNTY, MICHIGAN.

Program Service Accomplishments

Program 1

Expenses: $68,873

PROMOTION OF THE IMPROVEMENT OF, AND TO SPONSOR AND ENGAGE IN THE SCIENTIFIC TESTING OF, THE QUALITY OF THE WATERS CONSTITUTING THE GLEN LAKE WATERSHED. PUBLICATION OF INFORMATION CONCERNING SUCH...

PROMOTION OF THE IMPROVEMENT OF, AND TO SPONSOR AND ENGAGE IN THE SCIENTIFIC TESTING OF, THE QUALITY OF THE WATERS CONSTITUTING THE GLEN LAKE WATERSHED. PUBLICATION OF INFORMATION CONCERNING SUCH WATER QUALITY TESTS AND OTHER EDUCATIONAL AND INSTRUCTIONAL INFORMATION CONCERNING WATER QUALITY, THE PREVENTION AND CONTROL OF POLLUTION, AND THE PROTECTION OF THE ENVIRONMENT AND NATURAL RESOURCES IN THE AREA OF THE GLEN LAKE WATERS.

Program 2

Expenses: $67,640 Revenue: $1,630

PREVENTION OF THE INTRODUCTION OF INVASIVE SPECIES TO THE GLEN LAKE WATERSHED. THIS IS ACCOMPLISHED BY PROVIDING PERSONNEL AND EQUIPMENT TO WASH BOATS PRIOR TO ENTERING GLEN LAKE.

Program 3

Expenses: $2,851

MAINTENANCE OF WATER LEVEL OF GLEN LAKE

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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 (2023)

Revenue Breakdown

Contributions & Grants $392,985

Program Service Revenue $2,087

Investment Income $84,957

Other Revenue $20

TOTAL REVENUE $480,049

Expense Breakdown

Grants Paid $0

Salaries & Benefits $150,927

Fundraising Expenses $43,440

Program Expenses $139,364

Other Expenses $134,352

TOTAL EXPENSES $285,279

Year-over-Year Comparison

	2023	2022	Change
Revenue	$480,049	$1,520,178	-0.7%
Expenses	$285,279	$253,615	+0.1%
Net Income	$194,770	$1,266,563	-0.8%

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

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
STAN KRYDER	PRESIDENT	2.00	Officer Director	$0	$0	$0
DAVID CHENEY	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
KRIS FISHMAN	SECRETARY	2.00	Officer Director	$0	$0	$0
JENNIFER ST JULIAN	TREASURER	2.00	Officer Director	$0	$0	$0
EDWARD LANPHIER	PAST PRESIDENT	2.00	Officer Director	$0	$0	$0
PAT COMBS	DIRECTOR	1.00	Director	$0	$0	$0
TOM DUTMERS	DIRECTOR	1.00	Director	$0	$0	$0
RICK FINK	DIRECTOR	1.00	Director	$0	$0	$0
PETE HALEY	DIRECTOR	1.00	Director	$0	$0	$0
WOODY MCCALLY	DIRECTOR	1.00	Director	$0	$0	$0
DICK O'MALLEY	DIRECTOR	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
2024	No data	No data	No data	No data
2023	$480,049	$285,279	$3,066,879	$194,770
2022	$1,520,178	$253,615	$2,709,180	$1,266,563
2021	$396,065	$269,520	$1,705,628	$126,545
2020	$375,702	$273,151	$1,514,694	$102,551
2019	$467,562	$313,871	$1,311,357	$153,691
2018	$389,336	$221,209	$1,072,397	$168,127