LAKE STATES LUMBER ASSOCIATION

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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

1983

Legal Domicile

Principal Officer

JAMES MALTESE

Phone

9208840409

Tax Period

2024-01-01 to 2024-12-31

LAKE STATES LUMBER ASSOCIATION, founded in 1983, is a small nonprofit that reported $192K in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $168K left a modest 12% surplus.

Mission

PROVIDING LEADERSHIP AND EDUCATION TO ASSURE THE SUSTAINABILITY OF OUR FOREST RESOURCES.

Program Service Accomplishments

Program 1

SEVERAL MEMBER MEETINGS AND EXHIBITS TO PROVIDE EDUCATION AND KEEP ABREAST OF CURRENT ISSUES IMPACTING THE FOREST RESOURCES INDUSTRY.

Program 2

GOVERNMENT CONSULTING ACTIVITIES TO SUPPORT THE INDUSTRY AND ASSURE THE LONG-TERM SUSTAINABILITY OF FOREST RESOURCES.

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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 $154,780

Investment Income $13,548

Other Revenue $23,411

TOTAL REVENUE $191,739

Expense Breakdown

Grants Paid $24,940

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $143,134

TOTAL EXPENSES $168,074

Year-over-Year Comparison

	2024	2023	Change
Revenue	$191,739	$170,665	+0.1%
Expenses	$168,074	$155,574	+0.1%
Net Income	$23,665	$15,091	+0.6%

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
PETER CONNOR	DIRECTOR	N/A	Director	$0	$0	$0
LOREN DEJONGE	SECRETARY	N/A	Officer Director	$0	$0	$0
KYLE JESKE	TREASURER	N/A	Officer Director	$0	$0	$0
KIRBY KENDRICK	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
JENNIFER LU	DIRECTOR	N/A	Director	$0	$0	$0
RICK LUOKKALA	DIRECTOR	N/A	Director	$0	$0	$0
JAMES MALTESE	PRESIDENT	N/A	Officer Director	$0	$0	$0
BILL MILLARD	DIRECTOR	N/A	Director	$0	$0	$0
KATE MILLER	DIRECTOR	N/A	Director	$0	$0	$0
STEVE PETERS	DIRECTOR	N/A	Director	$0	$0	$0
MICHAEL SKENADORE	DIRECTOR	N/A	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	$191,739	$168,074	$393,326	$23,665
2023	$170,665	$155,574	$378,374	$15,091
2019	$169,684	$131,443	$333,535	$38,241