Lost Lake Woods Association
- Assets
- $6.4m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 93
- Location
- Lincoln, MI
- Founding
- 02/1945
- Data as of
- 12/2021
- EIN
- 38-0772180
Organization Overview
Lost Lake Woods Association is located in Lincoln, MI. The organization was established in 1945. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Lost Lake Woods Association employed 93 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lost Lake Woods Association is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Lost Lake Woods Association generated $2.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $2.4m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
A MEMBER ORGANIZATION FORMED TO PROVIDE AND MAINTAIN RECREATIONAL ACTIVITIES SUCH AS HUNTING, FISHING, GOLF, DINING, LODGING AND CAMPING FOR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLUBHOUSE, DINING & LODGING - APPROXIMATELY 900+ OF APPROXIMATELY 1,000 MEMBERS UTILIZED FACILITIES
GOLF COURSE - APPROXIMATELY 450+ OF APPROXIMATELY 1000 MEMBERS UTILIZED FACILITIES
RECREATIONAL ACTIVITIES OTHER THAN GOLF (HUNTING, FISHING, CAMPING) - APPROXIMATELY 600+ OF APPROXIMATELY 1000 MEMBERS UTILIZED SERVICES
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ian Dockrill General Mana | Officer | 40 | $125,498 |
Amanda Galbraith Vice Preside | Officer | 3 | $0 |
Bill Hogan President | Officer | 3 | $0 |
Ronnie Ruelle Treasurer | Officer | 3 | $0 |
Hallie Richter Secretary | Officer | 3 | $0 |
Brad Anderson Director | Trustee | 3 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,777,594 |
| Investment income | $68,244 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,131 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $823,155 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,942,168 |
| 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. | $125,497 |
| Compensation of current officers, directors, key employees. | $31,374 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $780,653 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $136,324 |
| Payroll taxes | -$112,582 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $265,206 |
| Advertising and promotion | $6,016 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $220,618 |
| Travel | $0 |
| 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 | $134,646 |
| Insurance | $52,100 |
| All other expenses | $181,200 |
| Total functional expenses | $2,417,665 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $855,812 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $413,720 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $138,801 |
| Inventories for sale or use | $64,643 |
| Prepaid expenses and deferred charges | $60,704 |
| Net Land, buildings, and equipment | $2,353,508 |
| Investments—publicly traded securities | $2,478,294 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $55,886 |
| Total assets | $6,421,368 |
| Accounts payable and accrued expenses | $117,540 |
| Grants payable | $0 |
| Deferred revenue | $410,738 |
| 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 | $528,278 |
| Net assets without donor restrictions | $5,893,090 |
| 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 | $6,421,368 |
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