FRIENDS OF LAKESIDE LAB INC

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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

1994

Legal Domicile

Phone

1722608458

Tax Period

2024-01-01 to 2024-12-31

FRIENDS OF LAKESIDE LAB INC, founded in 1994, is a community nonprofit in the Education sector that reported $1.0M in total revenue in fiscal year 2024. Revenue decreased 15% compared to the prior year. The organization ran a surplus of $673K, a strong 66% operating margin.

Mission

Friends of Lakeside Lab supports Iowa Lakeside Laboratory and Regents Resource Center and serves as a community resource to champion the Labs work in water quality monitoring environmental education and research.

Program Service Accomplishments

Program 1

Expenses: $131,254 Revenue: $47,700

Student Scholarships: Students attending Iowa Lakeside Laboratory Regents Resource Center ILLRRC during the summer of 2024 received scholarships to pay for room and board and or tuition for each week that the student attended classes at ILLRRC. In addition twenty-seven students who received scholarships participated in current research projects with faculty members.

Program 2

Expenses: $33,087 Revenue: $6,000

Public programming: Citizen Science: Water sample testing: Water samples were collected by local volunteers on 9 lakes in the Iowa Great Lakes Watershed throughout the summer months June - Sept...

Public programming: Citizen Science: Water sample testing: Water samples were collected by local volunteers on 9 lakes in the Iowa Great Lakes Watershed throughout the summer months June - Sept. Water sample analysis was completed by the State Hygienic Laboratory in the Bovbjerg Chemistry Lab on the campus f the ILLRRC in Milford Iowa. The ILLRRC provided lab space for the State Hygienic Laboratory.

Program 3

Expenses: $92,241 Revenue: $47,754

Environmental Education programming: Friends of Lakeside Lab Inc supports a Scientist in Residence and an Education Coordinator. The Scientist in Residence is responsible for directing research for summer research interns as well as working on their own research projects. The Education Coordinator is responsible for outreach environmental education programs for local school districts and learners of all ages. Pre-K - grade 12 programs are held throughout the school year Sept - May. Summer camps and evening programs are held during the summer months June - August.

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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 $712,702

Program Service Revenue $41,513

Investment Income $283,068

Other Revenue $-14,412

TOTAL REVENUE $1,022,871

Expense Breakdown

Grants Paid $199,720

Salaries & Benefits $46,579

Fundraising Expenses $1,001

Program Expenses $256,582

Other Expenses $103,110

TOTAL EXPENSES $349,559

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,022,871	$1,208,634	-0.2%
Expenses	$349,559	$385,934	-0.1%
Net Income	$673,312	$822,700	-0.2%

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

100

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

$43,067

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Emily Baker	Executive Director - 6 months	32.00	Key Emp	$29,167	$0	$29,167
Lyndy Holdt	Executive Director - 55 months	25.00	Key Emp	$13,900	$0	$13,900
Joan Gronstal	Driector - President	10.00	Officer Director	$0	$0	$0
Randy Gould	Director - Vice President	5.00	Officer Director	$0	$0	$0
Kathy Kleen	Director - Secretary	3.00	Officer Director	$0	$0	$0
Barbara Mendenhall	Director - Treasurer	10.00	Officer Director	$0	$0	$0
Denise Barry	Director	2.00	Director	$0	$0	$0
Linda Hirsch	Director	2.00	Director	$0	$0	$0
Drew Hutchinson	Director2	2.00	Director	$0	$0	$0
Dean Jacobsen	Director	2.00	Director	$0	$0	$0
Deborah Lanners	Director	2.00	Director	$0	$0	$0
Barbara Liesveld	Director	2.00	Director	$0	$0	$0
Jeremy Lueck	Director	2.00	Director	$0	$0	$0
Tom Nelson	Director	2.00	Director	$0	$0	$0
Rebecca Peters	Director	2.00	Director	$0	$0	$0
Anne Slattery	Director	2.00	Director	$0	$0	$0
Joe Tiefenthaler	Director	2.00	Director	$0	$0	$0
John Wills	Director	2.00	Director	$0	$0	$0
Mark Zito	Director	2.00	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	$1,022,871	$349,559	$5,886,460	$673,312
2023	$1,208,634	$385,934	$4,988,473	$822,700
2022	$905,327	$371,752	$3,853,411	$533,575
2021	$743,187	$326,619	$3,755,320	$416,568
2020	$371,070	$189,764	$3,168,007	$181,306