Lake Gogebic Trails Inc
- Assets
- $287.6k
- Revenue
- $217.9k
- Investments
- $0.0
- Employees
- 20
- Location
- Bergland, MI
- Founding
- 03/2009
- Data as of
- 12/2023
- EIN
- 20-0165585
Organization Overview
Lake Gogebic Trails Inc is located in Bergland, MI. The organization was established in 2009. According to its NTEE Classification (N68) the organization is classified as: Winter Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Lake Gogebic Trails Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Gogebic Trails Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Lake Gogebic Trails Inc generated $217.9k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $379.3k during the year ending 12/2023. While expenses have increased by 6.2% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE, EDUCATE, SAFETY. DEVELOPMENT AND MAINTENANCE OF SNOWMOBILE TRAILS IN THE LAKE GOGEBIC MICHIGAN AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION CONTINUED TO DEVELOP AND MAINTAIN THE SNOWMOBILE TRAILS IN THE LAKE GOGEBIC, MICHIGAN AREA.MAINTENANCE INCLUDED BRUSHING VEGETATION AND GROOMING TRAILS TO PROVIDE A SAFE AND PLEASANT RECREATIONAL EXPERIENCE FOR ALL RESIDENTS AND VISITORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessie Yesney Vice President | Trustee | 5 | $0 |
Sara Long Secretary | OfficerTrustee | 2 | $0 |
Kristy Searles Treasurer | OfficerTrustee | 5 | $0 |
Mark Hanson President | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $177,628 |
| All other contributions, gifts, grants, and similar amounts not included above | $40,096 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $217,724 |
| Total Program Service Revenue | $0 |
| Investment income | $144 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $217,868 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,703 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,614 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,001 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,240 |
| Office expenses | $2,079 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,138 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,346 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $180,182 |
| Insurance | $11,146 |
| All other expenses | $62,642 |
| Total functional expenses | $379,299 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,284 |
| Savings and temporary cash investments | $49,777 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $203,508 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $287,569 |
| Accounts payable and accrued expenses | $918 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $20,247 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $21,165 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $266,404 |
| Total liabilities and net assets/fund balances | $287,569 |