Lakeville Public Safety Foundation (EIN 471004333) - 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

2014

Legal Domicile

Phone

6127998375

Tax Period

2024-01-01 to 2024-12-31

Lakeville Public Safety Foundation, founded in 2014, is a micro nonprofit in the Public Safety sector that reported $97K in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $113K exceeded revenue, resulting in a 16% operating deficit.

Mission

Promoting Public Safety by enhancing the capabilities of the Lakevill Police Department and Lakeville Fire Department by providing financial assistance for community-based public safety programs, events, processes, and nonessential operational tools

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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 $4,331

Program Service Revenue $0

Investment Income $0

Other Revenue $92,999

TOTAL REVENUE $97,330

Expense Breakdown

Grants Paid $82,142

Salaries & Benefits $0

Fundraising Expenses $1,000

Program Expenses $98,454

Other Expenses $30,490

TOTAL EXPENSES $112,632

Year-over-Year Comparison

	2024	2023	Change
Revenue	$97,330	$86,273	+0.1%
Expenses	$112,632	$107,691	+0.0%
Net Income	$-15,302	$-21,418	-0.3%

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
Shanen Corlett	President	5.00	Officer Director	$0	$0	$0
Jim Kretsch	Director	5.00	Director	$0	$0	$0
Patti McDonald	Director	5.00	Director	$0	$0	$0
Stephanie Scherer	Vice President	5.00	Officer Director	$0	$0	$0
Sarah Smith-Larkin	Director	5.00	Officer Director	$0	$0	$0
Kirstin Specht	Secretary	5.00	Officer Director	$0	$0	$0
Mike Puppe	Treasurer	5.00	Director	$0	$0	$0
Tim Roche	Director	5.00	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
2025	No data	No data	No data	No data
2024	$97,330	$112,632	$36,927	$-15,302
2023	$86,273	$107,691	$52,229	$-21,418
2022	$82,672	$87,203	$73,647	$-4,531
2021	$103,984	$71,393	$78,178	$32,591
2020	$59,104	$64,860	$45,587	$-5,756

Lakeville Public Safety Foundation