Progress Lakeshore Inc
- Assets
- $381.5k
- Revenue
- $254.7k
- Investments
- $0.0
- Employees
- 7
- Location
- Manitowoc, WI
- Founding
- 12/2005
- Data as of
- 12/2022
- EIN
- 20-0419691
Organization Overview
Progress Lakeshore Inc is located in Manitowoc, WI. The organization was established in 2005. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Progress Lakeshore Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Progress Lakeshore Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Progress Lakeshore Inc generated $254.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $480.7k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST LOCAL BUSINESSES IN THEIR GROWTH IN THE MANITOWOC COUNTY AREA AND TO ATTRACT NEW BUSINESSES TO THE MANITOWOC COUNTY AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXCELLENCE IN ECONOMIC DEVELOPMENT AWARDS BREAKFAST IS A CELEBRATION TO RECOGNIZE BUSINESSES AND INDIVIDUALS WHO CREATE A POSITIVE BUSINESS CLIMATE IN MANITOWOC COUNTY. THERE ARE 5 AWARD CATEGORIES: (1) ENTREPRENEURIAL ACHIEVEMENT AWARD, (2) NEIGHBORHOOD DEVELOPMENT AWARD, (3) CORPORATE INVESTMENT AWARD, (4) ECONOMIC ACCELERATOR OF THE YEAR AWARD, AND (5) COMMUNITY ENHANCEMENT AWARD. THIS EVENT DREW APPROXIMATELY 150 PEOPLE, AND 11 AWARDS WERE GIVEN OUT (EACH CATEGORY HAD A WINNER AND A HONORABLE MENTION). GUEST WHO ATTENDED RECEIVED A PROGRAM BOOKLET SUMMARIZING ALL 34 NOMINEES' STORY.
PERFECT YOUR PITCH IS A SERIES OF VIDEOS DESIGNED TO HELP BUDDING ENTREPRENEURS NAIL DOWN THEIR ELEVATOR PITCH, PERFECT SPEAKING IN PUBLIC, AND LEARN THE BASICS OF PITCHING A BUSINESS IDEA, IN PREPARATION FOR PARTICIPATING IN OUR ANNUAL LEVEL UP PITCH CONTEST. THE LEVEL UP PITCH CONTEST IS PRESENTED BY PROGRESS LAKESHORE AND REGIONAL PARTNERS. THE EVENT INCLUDES A PITCH BY EACH ENTREPRENEUR AND A QUESTION-AND-ANSWER PERIOD WITH LOCAL JUDGES. WINNER(S) RECEIVE PRIZE MONEY AND SERVICES. THIS EVENT OFFERS IN PERSON AND LIVE-STREAM VIEWING OPTIONS.THE LEVEL UP PITCH CONTEST HAD 6 PARTICIPANTS. WINNERS (FIRST AND SECOND) WENT ON TO COMPETE AT THE REGIONAL PITCH EVENT.
OUR ENTREPRENEUR TRAINING PROGRAM IS AN IMMERSIVE COURSE OFFERED IN CONJUNCTION WITH THE WISCONSIN SMALL BUSINESS DEVELOPMENT CENTER. THE EIGHT-WEEK SESSIONS EQUIP ASPIRING ENTREPRENEURS TO START AND GROW SUCCESSFUL BUSINESSES. PARTICIPANTS ARE PROVIDED WITH INFORMATION, TIPS, EXERCISES, AND TOOLS TO HELP EVALUATE THEIR BUSINESS IDEAS AND DEVELOP THEIR BUSINESS PLANS. THERE WERE EIGHT PARTICIPANTS FOR THIS PROGRAM WITH FOUR OF THEM GOING ON TO PARTICIPATE IN OUR LOCAL PITCH CONTEST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Sitkiewitz Board Member - Vice President | OfficerTrustee | 1 | $0 |
Greg Jagemann Board Member - President | OfficerTrustee | 1 | $0 |
Jamie Aulik Ex Officio | Trustee | 0.25 | $0 |
Judy Ferry Ex Officio | Trustee | 0.25 | $0 |
Justin Nickels Ex Officio | Trustee | 0.25 | $0 |
Kaitlin Brice Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $22,750 |
| Related organizations | $0 |
| Government grants | $22,599 |
| All other contributions, gifts, grants, and similar amounts not included above | $198,958 |
| Noncash contributions included in lines 1a–1f | $12,310 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $244,307 |
| Total Program Service Revenue | $9,787 |
| Investment income | $1,371 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,300 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4,621 |
| Net Income from Gaming Activities | $545 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $254,689 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $200,000 |
| 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. | $73,495 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $105,465 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $485 |
| Payroll taxes | $13,857 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $191 |
| Fees for services: Accounting | $9,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,025 |
| Office expenses | $11,580 |
| Information technology | $2,520 |
| Royalties | $0 |
| Occupancy | $28,166 |
| Travel | $2,238 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,427 |
| Insurance | $2,971 |
| All other expenses | $1,847 |
| Total functional expenses | $480,708 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $135,134 |
| Savings and temporary cash investments | $163,942 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,140 |
| 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 | $2,899 |
| Net Land, buildings, and equipment | $13,311 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $58,088 |
| Total assets | $381,514 |
| Accounts payable and accrued expenses | $10,937 |
| Grants payable | $0 |
| Deferred revenue | $1,000 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $57,465 |
| Total liabilities | $69,402 |
| Net assets without donor restrictions | $312,112 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $381,514 |