LAKE GENEVA ECONOMIC DEVELOPMENT C… - 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

1981

Legal Domicile

Principal Officer

MICHAEL DUNN

Phone

2627496402

Tax Period

2024-01-01 to 2024-12-31

LAKE GENEVA ECONOMIC DEVELOPMENT CORP, founded in 1981, is a small nonprofit that reported $101K in total revenue in fiscal year 2024. Revenue fell 40% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $58K, a strong 57% operating margin.

Mission

DEVELOPMENT AND SALE OF BUSINESS PARK LAND, AND PROMOTION OF ECONOMIC DEVELOPMENT WITHIN THE CITY OF LAKE GENEVA, WISCONSIN.

Program Service Accomplishments

Program 1

Expenses: $36,079

EXPENSES INCURRED ARE FOR THE PURPOSE OF CARRYING OUT THE CORPORATIONS EXEMPT PURPOSE OF DEVELOPIING, MARKETING AND SELLING LAND IN THE CITY OF LAKE GENEVAS BUSINESS PARKS, AND TO PROMOTE ECONOMIC...

EXPENSES INCURRED ARE FOR THE PURPOSE OF CARRYING OUT THE CORPORATIONS EXEMPT PURPOSE OF DEVELOPIING, MARKETING AND SELLING LAND IN THE CITY OF LAKE GENEVAS BUSINESS PARKS, AND TO PROMOTE ECONOMIC DEVELOPMENT WITHIN THE CITY.

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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 $0

Program Service Revenue $0

Investment Income $70,461

Other Revenue $30,472

TOTAL REVENUE $100,933

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $36,079

Other Expenses $42,956

TOTAL EXPENSES $42,956

Year-over-Year Comparison

	2024	2023	Change
Revenue	$100,933	$167,739	-0.4%
Expenses	$42,956	$42,018	+0.0%
Net Income	$57,977	$125,721	-0.5%

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

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
ANDREW DAMMEIR	EXECUTIVE DIRECTOR	020.00	Highest	$24,000	$0	$24,000
STEPHANIE KLETT	DIRECTOR	001.00	Director	$0	$0	$0
JON CHAMBERLAIN	DIRECTOR	001.00	Director	$0	$0	$0
CINDY YAGER	DIRECTOR	001.00	Director	$0	$0	$0
GEORGE CHIRONIS	DIRECTOR	001.00	Director	$0	$0	$0
BRIAN POLLARD	DIRECTOR	001.00	Director	$0	$0	$0
LAWRENCE AUSTIN	DIRECTOR	001.00	Director	$0	$0	$0
MICHAEL PLOCH	PRESIDENT	002.00	Officer Director	$0	$0	$0
DEWAYNE EGLY	VICE-PRESIDENT	002.00	Officer Director	$0	$0	$0
RICHARD TORHORST	SECRETARY	002.00	Officer Director	$0	$0	$0
MICHAEL DUNN	TREASURER	002.00	Officer 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	$100,933	$42,956	$2,634,605	$57,977
2023	$167,739	$42,018	$2,576,488	$125,721
2022	$7,013	$41,044	$2,450,805	$-34,031
2021	$86,299	$38,513	$2,484,747	$47,786
2020	$-570,819	$44,523	$2,436,965	$-615,342
2019	$-9,958	$59,254	$3,052,598	$-69,212
2018	$2,264	$46,482	$3,125,265	$-44,218

LAKE GENEVA ECONOMIC DEVELOPMENT CORP