GREAT LAKES SPORTS COMMISSION FOUN… - 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

2024

Legal Domicile

Principal Officer

ERIC MARVIN

Phone

2312678024

Tax Period

2025-08-01 to 2025-12-31

GREAT LAKES SPORTS COMMISSION FOUNDATION, founded in 2024, is a small nonprofit in the Recreation & Sports sector that reported $256K in total revenue in fiscal year 2025. The organization ran a surplus of $72K, a strong 28% operating margin.

Mission

DEDICATED TO PROMOTING AND DEVELOPING NORTHERN MICHIGAN AS A PREMIER DESTINATION FOR SPORTS, RECREATION, AND TOURISM.

Program Service Accomplishments

Program 1

Expenses: $182,388 Revenue: $247,042

THE GREAT LAKES SPORTS COMMISSION LAUNCHED THE EPSON TOUR GREAT LAKES CHAMPIONSHIP IN HARBOR SPRINGS TO STRATEGICALLY POSITION NORTHERN MICHIGAN AS A PREMIER DESTINATION FOR SPORTS, TOURISM, AND...

THE GREAT LAKES SPORTS COMMISSION LAUNCHED THE EPSON TOUR GREAT LAKES CHAMPIONSHIP IN HARBOR SPRINGS TO STRATEGICALLY POSITION NORTHERN MICHIGAN AS A PREMIER DESTINATION FOR SPORTS, TOURISM, AND OUTDOOR RECREATION. BY BRINGING A NATIONALLY RECOGNIZED WOMEN'S PROFESSIONAL GOLF EVENT TO THE REGION, THE COMMISSION AIMED TO GENERATE ECONOMIC IMPACT, INCREASE VISITOR SPENDING, ELEVATE NATIONAL VISIBILITY, AND CREATE MEANINGFUL COMMUNITY AND YOUTH ENGAGEMENT OPPORTUNITIES BENEFITING COMMUNITIES ACROSS THE BROADER NORTHERN MICHIGAN REGION WELL BEYOND THE TOURNAMENT WEEK ITSELF. THE EPSON TOUR HAD 2,000 PARTICIPANTS IN 2025.

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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 (2025)

Revenue Breakdown

Contributions & Grants $9,050

Program Service Revenue $247,042

Investment Income $0

Other Revenue $0

TOTAL REVENUE $256,092

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $182,388

Other Expenses $184,051

TOTAL EXPENSES $184,051

Year-over-Year Comparison

	2025	2024	Change
Revenue	$256,092	N/A	N/A
Expenses	$184,051	N/A	N/A
Net Income	$72,041	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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

100

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

$191,065

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE VERETTE	PRESIDENT	1.00	Officer Director	$0	$0	$0
CINDY PAAVOLA	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
WILLIAM MARSHALL	TREASURER	1.00	Officer Director	$0	$0	$0
ERIC MARVIN	EXECUTIVE DIRECTOR	25.00	Officer	$0	$5,565	$191,065

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	$256,092	$184,051	$72,041	$72,041

GREAT LAKES SPORTS COMMISSION FOUNDATION