FRIENDS OF LAKE LEELANAU (EIN 872224414) - 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

2021

Principal Officer

JENNIFER STEPHENSON KELLER

Phone

2248053740

Tax Period

2024-01-01 to 2024-12-31

FRIENDS OF LAKE LEELANAU, founded in 2021, is a community nonprofit in the Human Services sector that reported $1.1M in total revenue in fiscal year 2024. Revenue fell 54% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.0M, a strong 95% operating margin.

Mission

PROTECT AND ENHANCE THE QUALITY OF LAKE LEELANAU AND ITS SURROUNDING WATERSHED. THE ORGANIZATION INTENDS ON RECEIVING AND DISTRIBUTING FUNDS TO THE LAKE LEELANAU LAKE ASSOCIATION AND TO SIMILAR ORGANIZATIONS; SPECIFICALLY, ORGANIZATIONS THAT FOCUS ON PRESERVING AND MAINTAINING THE AQUATIC HEALTH AND WELL-BEING OF LAKE LEELANAU.

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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 $665,989

Program Service Revenue $0

Investment Income $403,945

Other Revenue $0

TOTAL REVENUE $1,069,934

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $1,604

Other Expenses $51,945

TOTAL EXPENSES $51,945

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,069,934	$2,320,301	-0.5%
Expenses	$51,945	$29,147	+0.8%
Net Income	$1,017,989	$2,291,154	-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

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
JAMES GROGAN	TREASURER	N/A	Officer	$0	$0	$0
THOMAS HIATT	SECRETARY	N/A	Officer	$0	$0	$0
JENNIFER STEPHENSON KELLER	PRESIDENT	N/A	Officer	$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	$1,069,934	$51,945	$9,013,342	$1,017,989
2023	$2,320,301	$29,147	$5,411,985	$2,291,154
2022	$3,120,512	$6,729	$3,124,652	$3,113,783

FRIENDS OF LAKE LEELANAU