Lakeside Legacy Foundation
- Assets
- $2.9m
- Revenue
- $899.4k
- Investments
- $0.0
- Employees
- 11
- Location
- Crystal Lake, IL
- Founding
- 10/2002
- Data as of
- 12/2020
- EIN
- 33-1006907
Organization Overview
Lakeside Legacy Foundation is located in Crystal Lake, IL. The organization was established in 2002. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2021, Lakeside Legacy Foundation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakeside Legacy Foundation 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 12/2020, Lakeside Legacy Foundation generated $899.4k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $592.9k during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
FOSTER AN INNOVATIVE ARTS, EDUCATION AND COMMUNITY DESTINATION TO ENRICH QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PART OF THE LAKESIDE LEGACY FOUNDATION MISSION IS TO PRESERVE AND PROTECT THE DOLE MANSION AND LAKESIDE ARTS PARK FOR THE COMMUNITY TO EXPERIENCE AND BE INSPIRED BY ART, ARTISTS, AND EDUCATIONAL PROGRAMMING. LLF HAD 48 ARTISTS' STUDIOS OF WHICH 96% OF THE STUDIOS WERE OCCUPIED. (I.E. PAINTERS, PHOTOGRAPHERS, MUSICIANS, RECORDING ARTIST, A CREATIVE WRITE, GRAPHIC DESIGNER.
FARMERS MARKET+ AT THE DOLE IS AN INDOOR AND OUTDOOR MARKET EXPERIENCE THAT BEGAN IN 2021. IT BRINGS THE SEASON'S FRESHEST LOCALLY SOURCED FRUITS, VEGETABLES, FLOWERS, AND DELICACIES TO NORTHERN ILLINOIS. THE MARKET SUPPORTS PRESERVATION EFFORTS OF THE HISTORIC PROPERTY WHILE PROVIDING SUPPORT TO LOCAL SMALL BUSINESSES, MUSICIANS, ARTISANS, FARMERS, PURVEYORS, AND FOOD VENDORS. THE MARKET FEATURES CHILDREN'S ATTRACTIONS INCLUDING AND LIVE MUSIC. IT UTILIZES THE PROPERTY'S BEAUTIFUL LAKESIDE SETTING ADJACENT TO CRYSTAL LAKE'S LIVELY MAIN BEACH AND ICONIC COUNTRY CLUB. THIS PROGRAM SERVES BETWEEN 1500-3000 GUESTS DURING THE SUNDAY SUMMER MARKETS, AND ON AVERAGE 500 -750 PEOPLE NOVEMBER-APRIL AT THE INDOOR MARKETS.
THE FIRST FRIDAY ART SHOW USED TO OCCUR 9 MONTHS OUT OF THE YEAR. DUE TO COVID THE ONLY EVENT HELD WAS IN OCTOBER. THE ART SHOW TYPICALLY HAS OVER 4,000 IN ATTENDANCE, 500+ EMERGING ARTISTS, 100+ PROFESSIONAL CALIBER ARTISTS THAT SHOWCASE THEIR WORK EITHER IN THE SAGE GALLERY OR THE DOLE GALLERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Woolley Secretary | OfficerTrustee | 1 | $0 |
Patricia L Lutz President | OfficerTrustee | 1 | $0 |
Murray Crabtree Treasurer | OfficerTrustee | 1 | $0 |
Jay C Lecoque Vice President | OfficerTrustee | 1 | $0 |
Ron Russell Member | Trustee | 1 | $0 |
John Tyrrell Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $737,897 |
| Investment income | $1,207 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $10,382 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $569 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $899,364 |
| Statement of Expenses | |
|---|---|
| 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. | $57,639 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $194,536 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $20,478 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,885 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,023 |
| Advertising and promotion | $18,566 |
| Office expenses | $22,946 |
| Information technology | $12,736 |
| Royalties | $0 |
| Occupancy | $68,260 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,308 |
| Interest | $42,810 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $79,784 |
| Insurance | $28,798 |
| All other expenses | $0 |
| Total functional expenses | $592,908 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $98,590 |
| Savings and temporary cash investments | $603,065 |
| Pledges and grants receivable | $21,997 |
| Accounts receivable, net | $10,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,877 |
| Prepaid expenses and deferred charges | $11,221 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,000 |
| Total assets | $2,859,576 |
| Accounts payable and accrued expenses | $11,236 |
| Grants payable | $0 |
| Deferred revenue | $2,028 |
| 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 | $830,058 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,366 |
| Total liabilities | $859,688 |
| 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 |
| Total liabilities and net assets/fund balances | $1,999,888 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Lakeside Legacy Foundation has recieved totaling $83,549.
| Awarding Organization | Amount |
|---|---|
Willow Springs Charitable Tr Mt Carroll, IL PURPOSE: GENERAL PURPOSE | $75,000 |
Advocate Health And Hospitals Corporation Downers Grove, IL PURPOSE: SPONSOR EVENTS | $8,250 |
Mckesson Foundation Dallas, TX PURPOSE: CHARITABLE | $293 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $6 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chicago Cook Workforce Partnership Chicago, IL | $32,171,643 | $83,286,997 |
Project Lead The Way Inc Indianapolis, IN | $104,347,608 | $65,462,690 |
Aspira Inc Of Illinois Chicago, IL | $37,783,687 | $23,094,089 |
Lighthouse Academies Of Northwest Indiana Inc Gary, IN | $25,011,234 | $24,142,982 |
Riverbend Head Start Delegate Inc Alton, IL | $2,230,032 | $11,645,370 |
Edchoice Inc Indianapolis, IN | $20,542,454 | $10,117,129 |
Teachers Treasures Inc Indianapolis, IN | $1,070,406 | $9,359,257 |
Academy For Urban School Leadership Chicago, IL | $9,385,123 | $10,302,671 |
Primo Center For Women And Children Chicago, IL | $5,281,489 | $8,337,109 |
North Chicago Education Fund Chicago, IL | $29,249,144 | $33,611 |
Racine Charter One Inc Racine, WI | $5,378,275 | $6,487,272 |
Rockford Rescue Mission Ministries Rockford, IL | $21,367,986 | $9,020,470 |