LAKESHORE TECHNICAL COLLEGE FOUNDA… - Form 990 Financial Data

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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

1976

Legal Domicile

Principal Officer

MIKE MCEVOY

Phone

9206931000

Tax Period

2022-07-01 to 2023-06-30

LAKESHORE TECHNICAL COLLEGE FOUNDATION INC, founded in 1976, is a small nonprofit in the Education sector that reported $852K in total revenue in fiscal year 2022. Revenue fell 68% from the prior year — a significant decline worth monitoring. Expenses of $3.0M exceeded revenue, resulting in a 248% operating deficit.

Mission

TO PROVIDE PRIVATE SCHOLARSHIPS AND ASSISTANCE TO STUDENTS FOR EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $2,491,524 Revenue: $46,354

SUPPORT OF INSTRUCTIONAL PROGRAMS/SERVICES: THIS PROGRAM IS TO PROVIDE ADDITIONAL SUPPORT TO THE INSTRUCTIONAL PROGRAMS AND/OR SERVICES OF LAKESHORE TECHNICAL COLLEGE, INCLUDING PROJECT GRILL. THE...

SUPPORT OF INSTRUCTIONAL PROGRAMS/SERVICES: THIS PROGRAM IS TO PROVIDE ADDITIONAL SUPPORT TO THE INSTRUCTIONAL PROGRAMS AND/OR SERVICES OF LAKESHORE TECHNICAL COLLEGE, INCLUDING PROJECT GRILL. THE CENTER FOR HEALTHCARE EXCELLENCE BUILDING EXPANSION WAS THE FOCUS FOR FY22-23 WITH A TOTAL OF $2,400,000.

Program 2

Expenses: $283,765 Revenue: $0

STUDENT SCHOLARSHIPS: PROVIDED SCHOLARSHIP SUPPORT TO STUDENTS AT LAKESHORE TECHNICAL COLLEGE TO ENCOURAGE ENROLLMENT AND RETENTION IN ASSOCIATE DEGREE AND TECHNICAL DIPLOMA PROGRAMS AT THE COLLEGE. AWARD DISBURSEMENTS ARE COORDINATED WITH FINANCIAL AID. SCHOLARSHIPS WERE AWARDED TO 585 STUDENTS.

Program 3

Expenses: $76,329 Revenue: $0

PROPERTY DONATIONS TO THE COLLEGE: THE DONOR-ASSIGNED VALUE OF EQUIPMENT RECEIVED AND TRANSFERRED TO THE COLLEGE. THIS PROGRAM ALLOWS THE COLLEGE TO UPGRADE OR OBTAIN EQUIPMENT FOR INSTRUCTION AND TO...

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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 (2022)

Revenue Breakdown

Contributions & Grants $694,869

Program Service Revenue $46,354

Investment Income $72,250

Other Revenue $38,607

TOTAL REVENUE $852,080

Expense Breakdown

Grants Paid $299,659

Salaries & Benefits $0

Fundraising Expenses $48,459

Program Expenses $2,867,512

Other Expenses $2,663,712

TOTAL EXPENSES $2,963,371

Year-over-Year Comparison

	2022	2021	Change
Revenue	$852,080	$2,685,335	-0.7%
Expenses	$2,963,371	$639,581	+3.6%
Net Income	$-2,111,291	$2,045,754	-2.0%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROSS NIEMI	PRESIDENT	0.50	Officer Director	$0	$0	$0
MIKE MRDJENOVICH	PAST PRESIDENT	0.50	Officer Director	$0	$0	$0
BOB FITZGERALD	TREASURER/SECRETARY	0.50	Officer Director	$0	$0	$0
PAUL CARLSEN	EX OFFICIO	0.50	Director	$0	$0	$0
LYNN COADY	DIRECTOR	0.50	Director	$0	$0	$0
PAUL WEAVER	DIRECTOR	0.50	Director	$0	$0	$0
JESSE BROTZ	DIRECTOR	0.50	Director	$0	$0	$0
JUSTIN SELLE	DIRECTOR	0.50	Director	$0	$0	$0
DON HAMMOND	DIRECTOR	0.50	Director	$0	$0	$0
SISTER JANE KINATE	DIRECTOR	0.50	Director	$0	$0	$0
MIKE MCEVOY	DIRECTOR	0.50	Director	$0	$0	$0
CASSIE ZINKEL	DIRECTOR	0.50	Director	$0	$0	$0
JOHN C MILLER	DIRECTOR	0.50	Director	$0	$0	$0
JUTTA FURCA	DIRECTOR	0.50	Director	$0	$0	$0
LEE VAN BOXTEL	DIRECTOR	0.50	Director	$0	$0	$0
MIKE VANDER ZANDEN	DIRECTOR	0.50	Director	$0	$0	$0
RANDALL ROETHEL	DIRECTOR	0.50	Director	$0	$0	$0
SACHIN SHIVARAM	DIRECTOR	0.50	Director	$0	$0	$0
KRISTY LIPHART	EXECUTIVE DIRECTOR	0.50	Officer	$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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$852,080	$2,963,371	$4,903,776	$-2,111,291
2022	$2,685,335	$639,581	$5,924,242	$2,045,754
2021	$727,114	$510,611	$4,595,701	$216,503
2020	$670,782	$576,705	$3,871,195	$94,077
2019	$917,321	$836,143	$3,866,275	$81,178

LAKESHORE TECHNICAL COLLEGE FOUNDATION INC