Lake Carriers Association
- Assets
- $774.8k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 4
- Location
- Westlake, OH
- Founding
- 05/1922
- Data as of
- 12/2023
- EIN
- 34-0347260
Organization Overview
Lake Carriers Association is located in Westlake, OH. The organization was established in 1922. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 12/2023, Lake Carriers Association employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Carriers Association 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 12/2023, Lake Carriers Association generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 5 years. 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
THE ORGANIZATIONS MISSION IS TO IMPROVE BUSINESS CONDITIONS AFFECTING THE GREAT LAKES SHIPPING INDUSTRY. THEIR MOST SIGNIFICANT RECENT ACTIVITIES INVOLVE CANADIAN BALLAST WATER REFORM,
Describe the Organization's Program Activity:
Part 3 - Line 4a
ICEBREAKER AND ICE BREAKING POLICY: THE COAST GUARD CONTINUES TO LACK THE RESOURCES TO KEEP COMMERCE MOVING EFFICIENTLY DURING THE GREAT LAKES WINTERS. IN ADDITION TO ECONOMIC LOSS TO THE REGION, VESSEL OPERATORS HAVE EXPERIENCED GROUNDINGS, PROPELLER DAMAGE AND HULL FRACTURES. LAKE CARRIERS ASSOCIATION (LCA) HAS HIRED A LOBBYING FIRM TO ASSIST WITH THE APPROPRIATIONS PROCESS TO BUILD AN ADDITIONAL ICEBREAKER FOR THE GREAT LAKES. THE FIRM ALSO HELPS WITH POLICY CHANGES TO MORE ACCURATELY MEASURE THE PERFORMANCE FOR THE ICEBREAKING MISSION. LCA ADVOCATED FOR SPECIFIC LANGUAGE ON ICE BREAKING IN THE COAST GUARD AUTHORIZATION BILL.
CANADIAN BALLAST WATER: TRANSPORT CANADA FINALIZED REGULATIONS THAT WILL PROHIBIT U.S. FLAG SHIPS ON THE GREAT LAKES FROM EXPORTING CARGO FROM THE U.S. TO CANADA. THE CANADIAN ATTEMPT TO REGULATE BALLAST WATER DISCHARGES IN THE U.S. GIVES THEIR SHIPS A MONOPOLY FOR THE BI-NATIONAL GREAT LAKES TRADE WHICH WILL SIGNIFICANTLY DECREASE REVENUE FOR THE U.S. FLAG SHIPS. LCA FILED A PETITION WITH THE FEDERAL MARITIME COMMISSION (FMC) REQUESTING AN INVESTIGATION INTO THE CANADIAN GOVERNMENT. LCA HAS HIRED A LOBBYING FIRM TO ASSIST WITH THAT PROCESS. LCA CONTINUES TO WORK WITH TRANSPORT CANADA, THE EPA, FMC AND THE U.S. COAST GUARD AS PART OF THIS EFFORT.
WATER RESOURCES DEVELOPMENT ACT: THIS LEGISLATION AUTHORIZES THE ARMY CORPS OF ENGINEERS PROJECTS TO MAINTAIN THE FEDERAL WATERWAYS AND ALSO SETS FUNDING TARGETS FOR APPROPIATORS. LCA HIRED ATTORNEYS AND FEDERAL LOBBYISTS TO BETTER FUND THE GREAT LAKES NAVIGATION SYSTEM AND INCREASE THE SPENDING TARGETS FROM THE HARBOR MAINTENANCE TRUST FUND. THIS FUND PAYS FOR OPERATIONS AND MAINTENANCE AT COSTAL PORTS SUCH AS DREDGING, BREAKWALL REPAIRS, AND LOCK MAINTENANCE. LCA ALSO HIRED FEDERAL LOBBYISTS AND ATTORNEYS TO FULLY FUND THE COMPLETION OF A NEW CORPS FUNDED LOCK IN SAULT STE. MARIE, MICHIGAN. LCA IS ALSO ADVOCATING FOR FEDERAL FUNDING OF THE GREAT LAKES TO CONNECT CHANNELS AND TO DEEPEN PORTIONS OF ONE OF THOSE CHANNELS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James H Weakley President | Officer | 55 | $0 |
Eric D Peace Director-Communications | Trustee | 45 | $0 |
Debra S Dicianna Director-Regulatory Affairs | Trustee | 45 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $545,287 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $545,287 |
| Total Program Service Revenue | $969,697 |
| Investment income | $0 |
| 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 | $1,514,984 |
| 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. | $622,307 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,272 |
| Pension plan accruals and contributions | $69,820 |
| Other employee benefits | $17,076 |
| Payroll taxes | $42,659 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $695,718 |
| Fees for services: Accounting | $11,049 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $49,126 |
| Information technology | $24,019 |
| Royalties | $0 |
| Occupancy | $39,778 |
| Travel | $42,197 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,823 |
| Interest | $0 |
| Payments to affiliates | $39,950 |
| Depreciation, depletion, and amortization | $1,011 |
| Insurance | $3,880 |
| All other expenses | $0 |
| Total functional expenses | $1,741,392 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $768,859 |
| 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 | $3,368 |
| Net Land, buildings, and equipment | $2,556 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $774,783 |
| Accounts payable and accrued expenses | $117,585 |
| 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 | $0 |
| Total liabilities | $117,585 |
| 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 | $657,198 |
| Total liabilities and net assets/fund balances | $774,783 |