Diamond Island Assn
- Assets
- $361.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 6
- Location
- Cassopolis, MI
- Founding
- 09/2019
- Data as of
- 12/2022
- EIN
- 38-1647249
Organization Overview
Diamond Island Assn is located in Cassopolis, MI. The organization was established in 2019. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Diamond Island Assn employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Diamond Island Assn is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Diamond Island Assn generated $181.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $123.1k during the year ending 12/2022. While expenses have increased by 9.8% per year over the past 4 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ASSOCIATION OWNS A QUARTER OF A MILLION DOLLAR LAKE BARGE AND OPERATES A BARGE SERVICE BETWEEN APRIL AND OCTOBER EACH SEASON, TO CONNECT AN ISLAND COMMUNITY OF 93 HOMES WITH THE MAINLAND ON DIAMOND LAKE, MICHIGAN.
Describe the Organization's Program Activity:
Part 3
OPERATE A SIX-CAR BARGE FERRY CONNECTING DIAMOND ISLAND WITH THE MAINLAND BETWEEN APRIL 15, 2020 AND OCTOBER 31, 2020, USING A STAFF OF 5-6 EMPLOYEE OPERATORS AND ISLAND VOLUNTEERS.
MAKE CAPITAL EXPENDITURE REPAIRS TO A NEW BARGE PLACED IN SERVICE IN JULY, 2021, ATTRIBUTABLE TO UNEXPECTED COMPLETE OR PARTIAL FAILURES IN SEVERAL SUBSYSTEMS.
OVERSEE SPECIAL ASSESSMENTS AND REPAYMENTS OF THE NEW BARGE CONSTRUCTION LOAN THROUGH 2026.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Gries President | 2 | $0 | |
Phil Bottger Vice President | 2 | $0 | |
James E Andrasco Treasurer | 5 | $0 | |
Lisa Marley Secretary | 2 | $0 | |
Jason Stabnik Director Aug-Dec 2022 | 2 | $0 | |
Gary Nolte Director Aug-Dec 2022 | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $25,097 |
| Membership dues | $150,932 |
| Investment income | $8 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $4,967 |
| Other Revenue | $0 |
| Total Revenue | $181,004 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $34,145 |
| Professional fees and other payments to independent contractors | $19,294 |
| Occupancy, rent, utilities, and maintenance | $1,495 |
| Printing, publications, postage, and shipping | $463 |
| Other expenses | $67,688 |
| Total expenses | $123,085 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $11,499 |
| Other assets | $0 |
| Total assets | $360,984 |
| Total liabilities | $154,491 |
| Net assets or fund balances | $206,493 |