Lake Street Council (EIN 410975738) - 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

1968

Legal Domicile

Principal Officer

Allison Sharkey

Phone

6128220232

Tax Period

2024-01-01 to 2024-12-31

Lake Street Council, founded in 1968, is a community nonprofit in the Community Improvement sector that reported $2.3M in total revenue in fiscal year 2024. Revenue surged 44% from the prior year, signaling strong growth momentum. Expenses of $2.1M left a modest 7% surplus.

Mission

Lake Street Council engages, serves, and advocates for the Lake Street business community in Minneapolis to ensure the vitality and prosperity of the commercial corridor. The Lake Street Council fosters economic vitality and amplifies Lake Street's vibrancy to create a thriving and livable commercial corridor.

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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 $2,227,025

Program Service Revenue $0

Investment Income $95,220

Other Revenue $-22,116

TOTAL REVENUE $2,300,129

Expense Breakdown

Grants Paid $558,735

Salaries & Benefits $1,024,193

Fundraising Expenses $232,129

Program Expenses $1,450,853

Other Expenses $553,469

TOTAL EXPENSES $2,136,397

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,300,129	$1,592,333	+0.4%
Expenses	$2,136,397	$2,493,384	-0.1%
Net Income	$163,732	$-901,051	-1.2%

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

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

$120,500

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Baba Letang	President	2.00	Officer Director	$0	$0	$0
Vicki Karr	Vice President/Secratary	2.00	Officer Director	$0	$0	$0
Ronnie Taylor	Treasurer	2.00	Officer Director	$0	$0	$0
Hibo Abdi	Director	1.00	Director	$0	$0	$0
Ted Campbell	Director	1.00	Director	$0	$0	$0
Rich Esquivel	Director	1.00	Director	$0	$0	$0
Hodan Guled	Director	1.00	Director	$0	$0	$0
Staci Hesthaven	Director	1.00	Director	$0	$0	$0
Julie Ingebresten	Director	1.00	Director	$0	$0	$0
Enrique Blanco	Executive Comittee	1.00	Director	$0	$0	$0
Dipankar Mukherjee	Director	1.00	Director	$0	$0	$0
Miluska Novota	Director	1.00	Director	$0	$0	$0
Alison Pence	Director	1.00	Director	$0	$0	$0
Jackie Knight	Executive Comittee	1.00	Director	$0	$0	$0
Ana Columba Reyes	Director	1.00	Director	$0	$0	$0
Justin Bryant	Director	1.00	Director	$0	$0	$0
Claudia Carrasco	Director	1.00	Director	$0	$0	$0
Brittany Howard	Director	1.00	Director	$0	$0	$0
Allison Sharkey	Executive Director	40.00	Officer	$116,600	$3,900	$120,500

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	$2,300,129	$2,136,397	$4,378,569	$163,732
2023	$1,592,333	$2,493,384	$4,149,614	$-901,051
2022	$1,331,547	$2,434,864	$5,311,066	$-1,103,317
2021	$1,498,492	$3,758,693	$6,341,683	$-2,260,201
2020	$15,041,966	$7,737,498	$8,647,168	$7,304,468
2019	$393,207	$339,841	$418,043	$53,366
2018	$613,563	$488,395	$363,492	$125,168

Lake Street Council