Lake Region Electric Trust
- Assets
- $232.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Pelican Rapids, MN
- Founding
- 02/2010
- Data as of
- 12/2023
- EIN
- 20-5114301
Organization Overview
Lake Region Electric Trust is located in Pelican Rapids, MN. The organization was established in 2010. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Region Electric Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Lake Region Electric Trust generated $141.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $113.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
THE GENERAL PURPOSE OF THIS CORPORATION SHALL BE TO ADVANCE, PROMOTE, ENHANCE, AND ENGAGE IN CHARITABLE AND EDUCATIONAL PURPOSES, PRIMARILY IN THE AREA SERVED BY LAKE REGION ELECTRIC COOPERATIVE, PELICAN RAPIDS, MINNESOTA, WHICH WILL INCLUDE:THE ACCUMULATION AND DISBURSEMENTS OF FUNDS FOR CHARITABLE AND EDUCATIONAL PURPOSES, INCLUDING EMERGENCY ENERGY ASSISTANCE. TO CARRY ON ANY AND ALL ACTIVITIES PERMITTED TO BE CARRIED ON BY A NON-PROFIT CORPORATION UNDER THE STATE LAWS OF MINNESOTA AND THE FEDERAL LAWS OF THE UNITED STATES. TO MAKE DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, OR CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise Laymon Trustee | 0.9 | $0 | |
Kristie Partain Trustee | 0.9 | $0 | |
Tex Larson Trustee | 0.9 | $0 | |
Nick Murdock Trustee | 0.9 | $0 | |
Karen Hart Trustee | 0.9 | $0 | |
Patty Johnson Chair | 0.9 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $141,777 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $141,777 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $998 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $212 |
| Total expenses | $113,110 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $231,477 |
| Other assets | $0 |
| Total assets | $232,105 |
| Total liabilities | $0 |
| Net assets or fund balances | $232,105 |