Lakeshore Community Foundation Inc
- Assets
- $91.2m
- Revenue
- $13.6m
- Investments
- $0.0
- Employees
- 3
- Location
- Manitowoc, WI
- Founding
- 05/2010
- Data as of
- 12/2023
- EIN
- 27-0978059
Organization Overview
Lakeshore Community Foundation Inc is located in Manitowoc, WI. 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. As of 12/2023, Lakeshore Community Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakeshore Community Foundation Inc 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, Lakeshore Community Foundation Inc generated $13.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 20.6% each year . All expenses for the organization totaled $1.8m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lakeshore Community Foundation Inc has awarded 410 individual grants totaling $16,592,927. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO GATHER, GROW AND GIVE CHARITABLE FINANCIAL RESOURCES TO BENEFIT THE COMMUNITIES IT SERVES NOW AND FOR FUTURE GENERATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAKESHORE COMMUNITY FOUNDATION, INC. IS A TAX EXEMPT PUBLIC CHARITY ORGANIZED TO PROMOTE AND MANAGE ENDOWMENT FUNDS PRIMARILY FOR THE BENEFIT OF SHEBOYGAN AND MANITOWOC COUNTIES. THE FOUNDATION RECEIVES, ADMINISTERS, AND DISTRIBUTES GIFTS FROM INDIVIDUALS AND ORGANIZATIONS FOR THE LONG TERM BENEFIT OF THE COUNTIES IT SERVES. DURING 2023, THE FOUNDATION ADDED 8 NEW FUNDS TO ITS PORTFOLIO, AND CLOSED ONE, FOR A TOTAL OF 98 FUNDS WITH AN AGGREGATE MARKET VALUE OF $89,015,000 AT YEAR END. AVERAGE FUND SIZE WAS $908,000. DURING 2023, GROWTH IN GIFTS TO NEW AND EXISTING FUNDS WAS $13,884,000. THE FOUNDATION MADE 227 GRANTS DURING 2023 TOTALING $2,439,000. SINCE THE FIRST FUND WAS ESTABLISHED IN MAY 2011, THE FOUNDATION HAS DISTRIBUTED MORE THAN $22,300,000 IN GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Wiegert Chief Executive Officer | Officer | 50 | $110,000 |
Thomas Aschenbrenner Chairman | OfficerTrustee | 5 | $0 |
James Vopat Vice President | OfficerTrustee | 3 | $0 |
Thomas Bare Treasurer | OfficerTrustee | 2 | $0 |
Jane Pfeffer Secretary | OfficerTrustee | 1.5 | $0 |
Richard Balge Director | Trustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,525,190 |
| Noncash contributions included in lines 1a–1f | $814,365 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,525,190 |
| Total Program Service Revenue | $91,761 |
| Investment income | $1,124,675 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $875,890 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,617,516 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,475,103 |
| 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. | $121,691 |
| Compensation of current officers, directors, key employees. | $48,676 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,018 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,231 |
| Payroll taxes | $12,797 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,073 |
| Fees for services: Accounting | $15,117 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $76,920 |
| Fees for services: Other | $9,400 |
| Advertising and promotion | $1,127 |
| Office expenses | $6,183 |
| Information technology | $417 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,103 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,097 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,476 |
| All other expenses | $1,863 |
| Total functional expenses | $1,791,149 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,630 |
| Savings and temporary cash investments | $0 |
| 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 | $4,648 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $89,232,493 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,880,701 |
| Total assets | $91,205,472 |
| Accounts payable and accrued expenses | $38,252 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $31,700,748 |
| Total liabilities | $31,739,000 |
| Net assets without donor restrictions | $57,585,771 |
| Net assets with donor restrictions | $1,880,701 |
| 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 | $91,205,472 |
Grants Awarded
Over the last fiscal year, Lakeshore Community Foundation Inc has awarded $1,270,406 in support to 53 organizations.
| Grant Recipient | Amount |
|---|---|
BLESSED SACRAMENT CONGREGATION PURPOSE: UNRESTRICTED | $14,357 |
BOYS & GIRLS CLUB FOX VALLEY INC PURPOSE: BOYS AND GIRLS CLUB OF MANITOWOC COUNTY | $6,600 |
BOYS & GIRLS CLUB OF SHEBOYGAN COUNTY PURPOSE: UNRESTRICTED | $11,000 |
BRILLION PUBLIC SCHOOLS PURPOSE: BRILLION HIGH SCHOOL - SCHOLARSHIPS | $5,280 |
CAMP EVERGREEN CORPORATION PURPOSE: $2,000 UNRESTRICTED, $10,000 NATATORIUM CAMPAIGN | $12,000 |
CAPITOL CIVIC CENTRE PURPOSE: UNRESTRICTED | $11,850 |