LAKE CHURCH AT HORSESHOE BAY

EIN: 934151701 501(c)(3) Religion

HORSESHOE BAY, TX

Total Revenue
$5,356,492
Total Expenses
$621,060
Total Assets
$4,869,049
Net Assets
$4,790,656
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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
2023
Legal Domicile
TX
Principal Officer
GENE GLAESER
Phone
5127518240
Tax Period
2024-01-01 to 2024-12-31

LAKE CHURCH AT HORSESHOE BAY, founded in 2023, is a community nonprofit in the Religion sector that reported $5.4M in total revenue in fiscal year 2024. The organization ran a surplus of $4.7M, a strong 88% operating margin.

Mission

ADVANCEMENT OF RELIGION BY ENGAGING IN WORSHIP, SPIRITUAL DEVELOPMENT AND PROMULGATION OF ITS RELIGIOUS BELIEFS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,344,034
Program Service Revenue $0
Investment Income $12,458
Other Revenue $0
TOTAL REVENUE $5,356,492

Expense Breakdown

Grants Paid $25,000
Salaries & Benefits $213,846
Fundraising Expenses $0
Program Expenses $621,060
Other Expenses $382,214
TOTAL EXPENSES $621,060

Year-over-Year Comparison

2024 2023 Change
Revenue $5,356,492 N/A N/A
Expenses $621,060 N/A N/A
Net Income $4,735,432 N/A N/A
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

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Governance

Voting Members
3
Independent Members
2
Employees
4
Volunteers
10

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
1
$91,667
Total Directors
2
$0
Key Employees
1
$91,667
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GENE GLAESER PASTOR 0.00
Officer Key Emp
$91,667 $0 $91,667
HUTCH UTT DIRECTOR 0.00
Director
$0 $0 $0
DAVID SHOCKLEY DIRECTOR 0.00
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 $5,356,492 $621,060 $4,869,049 $4,735,432
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