LAKE MICHIGAN COLLEGE FOUNDATION (EIN 382714753) - 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

1986

Legal Domicile

Principal Officer

KARLA PANKRATZ

Phone

6169278100

Tax Period

2024-07-01 to 2025-06-30

LAKE MICHIGAN COLLEGE FOUNDATION, founded in 1986, is a community nonprofit that reported $2.2M in total revenue in fiscal year 2024. Revenue fell 56% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.1M, a strong 49% operating margin.

Mission

THE MISSION OF THE LAKE MICHIGAN COLLEGE FOUNDATION IS TO RAISE FUNDS IN SUPPORT OF LAKE MICHIGAN COLLEGE AND ITS STUDENTS. THE LAKE MICHIGAN COLLEGE FOUNDATION IS THE MAIN FUND-RAISING ORGANIZATION OF LAKE MICHIGAN COLLEGE FOR THE SOLICITATION, RECEIPT AND MANAGEMENT OF ALL PRIVATE GIFTS.

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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 $885,368

Program Service Revenue $0

Investment Income $1,315,121

Other Revenue $-41,644

TOTAL REVENUE $2,158,845

Expense Breakdown

Grants Paid $938,208

Salaries & Benefits $0

Fundraising Expenses $46,570

Program Expenses $938,208

Other Expenses $166,695

TOTAL EXPENSES $1,104,903

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,158,845	$4,935,176	-0.6%
Expenses	$1,104,903	$1,466,353	-0.2%
Net Income	$1,053,942	$3,468,823	-0.7%

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

$690,813

Total Directors

$1,077,206

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TREVOR KUBATZKE	DIRECTOR/COLLEGE PRESIDENT	0.25	Director	$0	$128,155	$386,393
KARLA PANKRATZ	TREASURER STARTED 5.22.25/COLLEGE INTERM CFO	1.00	Officer Director	$0	$74,396	$179,526
KELLI HAHN	TREASURER UNTIL 5.21.25 /COLLEGE CFO	1.00	Officer Director	$0	$107,183	$279,978
SCOTT GEIK	DIRECTOR/VICE PRESIDENT	0.25	Officer Director	$0	$0	$0
DOUG SCHAFFER	SECRETARY	39.00	Officer Director	$0	$82,697	$231,309
KELLY FERNEAU	PRESIDENT	1.00	Officer Director	$0	$0	$0
RANDY BETTICH	DIRECTOR	0.25	Director	$0	$0	$0
DAVID SCHAFFER	DIRECTOR	0.25	Director	$0	$0	$0
ALLOYD BLACKMON	DIRECTOR	0.25	Director	$0	$0	$0
AMY WHITE	DIRECTOR	0.25	Director	$0	$0	$0
DAVID COSTAS	DIRECTOR	0.25	Director	$0	$0	$0
CHAD WHITE	DIRECTOR	0.25	Director	$0	$0	$0
BRIAN FRENCH	DIRECTOR	0.25	Director	$0	$0	$0
CAROLYN HANSON	DIRECTOR	0.25	Director	$0	$0	$0
MARY JO TOMASINI	DIRECTOR	0.25	Director	$0	$0	$0
MICHAEL CARLSON	DIRECTOR	0.25	Director	$0	$0	$0
VICKI BURGHDOFF	DIRECTOR	0.25	Director	$0	$0	$0
PATSY HARTZELL	DIRECTOR	0.25	Director	$0	$0	$0
TINA ACKERMAN VAUGHT	DIRECTOR	0.25	Director	$0	$0	$0
ROBERT BURCH	DIRECTOR	0.25	Director	$0	$0	$0
SCOTT DIENES	DIRECTOR	0.25	Director	$0	$0	$0
SCOTT MCFARLAND	DIRECTOR	0.25	Director	$0	$0	$0
STEVEN HADAWAY	DIRECTOR	0.25	Director	$0	$0	$0
TIM PASSARO	DIRECTOR	0.25	Director	$0	$0	$0
GLORIA ENDER	DIRECTOR	0.25	Director	$0	$0	$0
JIM MAROHN	DIRECTOR	0.25	Director	$0	$0	$0
LARS PETZKE	DIRECTOR	0.25	Director	$0	$0	$0
BRETT CLOSSON	DIRECTOR	0.25	Director	$0	$0	$0
TIM TATE	DIRECTOR	0.25	Director	$0	$0	$0
JOAN SMITH	DIRECTOR	0.25	Director	$0	$0	$0
MEGAN HENDRIX	DIRECTOR	0.25	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	$2,158,845	$1,104,903	$22,084,437	$1,053,942
2024	$4,935,176	$1,466,353	$20,464,360	$3,468,823
2024	$4,935,176	$1,466,353	$20,464,360	$3,468,823
2023	$1,656,707	$1,702,782	$15,916,522	$-46,075
2022	$2,877,330	$868,454	$15,632,753	$2,008,876
2021	$1,313,612	$1,168,526	$17,327,351	$145,086
2020	$1,085,804	$4,075,717	$15,449,105	$-2,989,913
2019	$2,775,476	$934,747	$18,292,937	$1,840,729
2018	$1,596,419	$4,297,364	$16,917,792	$-2,700,945

LAKE MICHIGAN COLLEGE FOUNDATION