THREE LAKES 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

1966

Legal Domicile

Principal Officer

Edward Gourley

Phone

2314127551

Tax Period

2025-01-01 to 2025-12-31

THREE LAKES ASSOCIATION INC, founded in 1966, is a small nonprofit that reported $178K in total revenue in fiscal year 2025. Revenue surged 76% from the prior year, signaling strong growth momentum. The organization ran a surplus of $102K, a strong 57% operating margin.

Mission

Water Quality Preservation in the Elk River Chain of Lakes.

Program Service Accomplishments

Program 1

Expenses: $6,085 Revenue: $0

Investigation into the proliferation of Golden Brown Algae on the floor of Torch and other lakes in the chain, including analysis of the organisms and testing of water samples with the goal of...

Investigation into the proliferation of Golden Brown Algae on the floor of Torch and other lakes in the chain, including analysis of the organisms and testing of water samples with the goal of determining the reasons for proliferation and of developing remediation plans.

Program 2

Expenses: $12,423 Revenue: $0

Supported environmental education activities, including providing funding for equipment and field trips to the four school districts in the Three Lakes area, and adult education programs related to...

Program 3

Expenses: $9,387 Revenue: $0

Supervision of interns from area high schools in a research project to survey aquatic plants on Clam Lake, emphasizing the presence of native and invasive species. The project serves to train the...

Supervision of interns from area high schools in a research project to survey aquatic plants on Clam Lake, emphasizing the presence of native and invasive species. The project serves to train the interns in scientific methods, communication skills and the value of environmental science.

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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 (2025)

Revenue Breakdown

Contributions & Grants $88,573

Program Service Revenue $0

Investment Income $89,749

Other Revenue $144

TOTAL REVENUE $178,466

Expense Breakdown

Grants Paid $10,750

Salaries & Benefits $0

Fundraising Expenses $2,921

Program Expenses $40,679

Other Expenses $65,865

TOTAL EXPENSES $76,615

Year-over-Year Comparison

	2025	2024	Change
Revenue	$178,466	$101,360	+0.8%
Expenses	$76,615	$81,786	-0.1%
Net Income	$101,851	$19,574	+4.2%

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

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

$25,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Lois Maclean	Executive Director	12	Officer	$25,000	$0	$25,000
Fred Sittel	President and Director	10	Officer Director	$0	$0	$0
Rick Doornbos	Vice President and Director	10	Officer Director	$0	$0	$0
Edward Gourley	Treasurer and Director	10	Officer Director	$0	$0	$0
Greg Fredericksen	Secretary and Director	10	Officer Director	$0	$0	$0
Tina Norris Fields	Director Emeritus	1	Director	$0	$0	$0
Rebecca Norris	Director Emeritus	1	Director	$0	$0	$0
Brian Hayes	Director	1	Director	$0	$0	$0
Steve Laurenz	Director	4	Director	$0	$0	$0
Gary Knapp	Director	1	Director	$0	$0	$0
Sheri Greenhoe	Director	1	Director	$0	$0	$0
Chris Herb	Director	4	Director	$0	$0	$0
Gary Bart	Director	1	Director	$0	$0	$0
Norton Bretz	Director Emeritus	1	Director	$0	$0	$0
Glen Wiggins	Director	1	Director	$0	$0	$0
Mike Haley	Director	1	Director	$0	$0	$0
Mike Novak	Director	1	Director	$0	$0	$0
Gary Mayes	Director	1	Director	$0	$0	$0
Linda Anderson-Jarosz	Director	1	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	$178,466	$76,615	$469,391	$101,851