Enchanted Lake Residents Associati… - Form 990 Financial Data

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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

1987

Legal Domicile

Principal Officer

FRED P GUSTAVSON

Phone

8087837504

Tax Period

2024-07-01 to 2025-06-30

Enchanted Lake Residents Association, founded in 1987, is a micro nonprofit that reported $84K in total revenue in fiscal year 2024. Expenses of $305K exceeded revenue, resulting in a 264% operating deficit.

Mission

THE ORGANIZATION MANAGES, SECURES, INSURES, AND MAINTAINS A PRIVATE COMMUNITY LAKE FOR THE RECREATIONAL AND ESTHETIC BENEFIT OF ITS MEMBERS. THE LAKE ALSO SERVES AS A KEY DRAINAGE AND FLOOD CONTROL ELEMENT FOR THE LARGER SURROUNDING COMMUNITY.

Program Service Accomplishments

Program 1

IN A PRIOR FISCAL YEAR THE ORGANIZATION, AS A PLANTIFF, SETTLED A SIGNIFICANT PROPERTY DAMAGE CLAIM FOR THIRD PARTY SILTATION AND POLLUTION OF ITS PRIVATE RECREATION LAKE. THE PROCEEDS ARE BEING USED TO MITIGATE THE DAMAGE. DURING A PRIOR FISCAL YEAR THE ORGANZATION TOOK DELIVERY OF CUSTOM BUILT EQUIPMENT TO REMOVE ALGAE, SEAWEED, AND OTHER POLLUTANTS FROM THE LAKE. IN ADDITION THE ORGANIZATION CONTINUED WITH THE PLANNING AND PERMITTING PHASE OF A PLANNED DREDGINNG OF THE LAKE. DURING THE CURRENT FISCAL YEAR THE ORGANIZATION CONTINUED EFFORTS TO LOCATE AN ECONOMICAL DISPOSAL SITE FOR DREDGE SPOILS

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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 $0

Program Service Revenue $50,545

Investment Income $33,383

Other Revenue $0

TOTAL REVENUE $83,928

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $305,171

TOTAL EXPENSES $305,171

Year-over-Year Comparison

	2024	2023	Change
Revenue	$83,928	$86,912	0.0%
Expenses	$305,171	$62,617	+3.9%
Net Income	$-221,243	$24,295	-10.1%

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

$1,389

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CINDY TURNER	DIRECTOR	004.00	Director	$1,389	$0	$1,389
GREG COLBERT	PRESIDENT	006.00	Officer Director	$0	$0	$0
CONNIE JEWELL	DIRECTOR	004.00	Director	$0	$0	$0
FP GUSTAVSON	TREASURER	004.00	Officer Director	$0	$0	$0
MARGARET NOVACK	SECRETARY	004.00	Officer Director	$0	$0	$0
MIKE COMPTON	DIRECTOR	004.00	Director	$0	$0	$0
LINDA JENKS	DIRECTOR	004.00	Director	$0	$0	$0
ALAN RICHARDSON	DIRECTOR	004.00	Director	$0	$0	$0
FRAN TANNEN	DIRECTOR	004.00	Director	$0	$0	$0
TODD JEWELL	DIRECTOR	004.00	Director	$0	$0	$0
JIM SCOFIELD	DIRECTOR	004.00	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	$83,928	$305,171	$752,994	$-221,243
2024	No data	No data	No data	No data
2023	$65,249	$60,857	$949,942	$4,392
2022	$52,980	$43,737	$944,485	$9,243
2021	$49,793	$52,124	$685,270	$-2,331
2020	$54,425	$64,156	$687,601	$-9,731
2018	$69,599	$128,994	$1,266,900	$-59,395

Enchanted Lake Residents Association