LAKE PRESTON DEVELOPMENT CORPORATION (EIN 510199304) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1977

Legal Domicile

Principal Officer

ZACH HUTH

Phone

6513036987

Tax Period

2023-01-01 to 2023-12-31

LAKE PRESTON DEVELOPMENT CORPORATION, founded in 1977, is a small nonprofit that reported $293K in total revenue in fiscal year 2022. Revenue surged 473% from the prior year, signaling strong growth momentum. The organization ran a surplus of $200K, a strong 68% operating margin.

Mission

TO PROMOTE, ASSIST, ENCOURAGE, AND DEVELOP THE BUSINESS AND ECONOMIC PROSPERITY OF LAKE PRESTON, SD, AND THE SURROUNDING AREA. TO ENCOURAGE NEW INDUSTRY TO REHABILITATE EXISTING INDUSTRIES, AND TO PROMOTE THE AGRICULTURAL AND RECREATIONAL DEVELOPMENT OF LAKE PRESTON, SD, AND SURROUNDING AREAS.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $125,000

Program Service Revenue $0

Investment Income $1,294

Other Revenue $3,359

TOTAL REVENUE $129,653

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,210

Other Expenses $3,210

TOTAL EXPENSES $3,210

Year-over-Year Comparison

	2023	2022	Change
Revenue	$129,653	$293,316	-0.6%
Expenses	$3,210	$92,878	-1.0%
Net Income	$126,443	$200,438	-0.4%

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
LUKE SMITH	PRESIDENT	1.00	Officer	$0	$0	$0
ZACH HUTH	TREASURER	1.00	Officer	$0	$0	$0
JARYN HUTH	SECRETARY	1.00	Officer	$0	$0	$0
DONNA BUMAN	MEMBER	1.00	Director	$0	$0	$0
JAKE SMITH	MEMBER	1.00	Director	$0	$0	$0
JOAN WOLSCHLAGER	MEMBER	1.00	Director	$0	$0	$0
MORGAN LARSON	MEMBER	1.00	Director	$0	$0	$0
PAUL CASPER	MEMBER	1.00	Director	$0	$0	$0
SHANE ODEGAARD	MEMBER	1.00	Director	$0	$0	$0
ZACH HASCHE	MEMBER	1.00	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	No data	No data	No data	No data
2023	$129,653	$3,210	$692,893	$126,443
2022	$293,316	$92,878	$444,476	$200,438

LAKE PRESTON DEVELOPMENT CORPORATION