GULL LAKE MINISTRIES

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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

1920

Legal Domicile

Principal Officer

DANIEL WALLACE

Phone

6169742701

Tax Period

2024-01-01 to 2024-12-31

GULL LAKE MINISTRIES, founded in 1920, is a community nonprofit in the Religion sector that reported $6.6M in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.1M, a strong 32% operating margin.

Mission

GULL LAKE MINISTRIES PROVIDES BIBLE BASED, CHRISTIAN RETREATS YEAR-ROUND FOR FAMILIES, CHURCHES AND ORGANIZATIONS WHERE WE EXALT JESUS AND SHARE HIS TRUTH.

Program Service Accomplishments

Program 1

Expenses: $2,877,761 Revenue: $3,305,390

PROVIDE CHRISTIAN BASED BIBLE CONFERENCE PROGRAMS TO APPROXIMATELY 8,750 PEOPLE PLUS DIRECT SUPPORT TO MISSIONS.

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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 $2,328,785

Program Service Revenue $0

Investment Income $634,035

Other Revenue $3,640,960

TOTAL REVENUE $6,603,780

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,040,516

Fundraising Expenses $117,550

Program Expenses $2,877,761

Other Expenses $2,427,257

TOTAL EXPENSES $4,467,773

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,603,780	$5,245,586	+0.3%
Expenses	$4,467,773	$4,163,042	+0.1%
Net Income	$2,136,007	$1,082,544	+1.0%

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

183

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

$236,164

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL WALLACE	PRESIDENT	42.00	Officer	$197,563	$38,601	$236,164
BISI ADEWUNMI	BOARD MEMBER	2.00	Director	$0	$0	$0
JIM DEKRUYTER	BOARD MEMBER	2.00	Director	$0	$0	$0
JOHN DEKRUYTER	BOARD MEMBER	1.00	Director	$0	$0	$0
JIM GORDON	CHAIR	2.00	Officer Director	$0	$0	$0
BRITT METZGER	BOARD MEMBER	1.00	Director	$0	$0	$0
NEIL NYBERG	SECRETARY	2.00	Officer Director	$0	$0	$0
CHRISTINE NYMEYER	BOARD MEMBER	1.00	Director	$0	$0	$0
MAX SMITH	TREASURER	2.00	Officer Director	$0	$0	$0
DAN VANDERMEULEN	BOARD MEMBER	1.00	Director	$0	$0	$0
KERRIE VERLEE	BOARD MEMBER	1.00	Director	$0	$0	$0
JOYCE WILLIAMS	BOARD MEMBER	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	$6,603,780	$4,467,773	$32,884,831	$2,136,007
2023	$5,245,586	$4,163,042	$30,575,822	$1,082,544
2022	$5,063,559	$3,290,079	$28,743,918	$1,773,480
2021	$4,364,141	$3,006,002	$28,111,605	$1,358,139
2020	$3,665,357	$2,899,264	$26,237,595	$766,093
2019	$3,713,797	$3,064,771	$25,244,742	$649,026