Rainbow Lakes Maintenance Corporation
- Assets
- $622.3k
- Revenue
- $174.8k
- Investments
- $0.0
- Employees
- 10
- Location
- Perrinton, MI
- Founding
- 03/1992
- Data as of
- 07/2024
- EIN
- 38-2677171
Organization Overview
Rainbow Lakes Maintenance Corporation is located in Perrinton, MI. The organization was established in 1992. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 07/2024, Rainbow Lakes Maintenance Corporation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainbow Lakes Maintenance Corporation is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 07/2024, Rainbow Lakes Maintenance Corporation generated $174.8k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $194.0k during the year ending 07/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE UPKEEP OF 1,200 ACRES OF NATURAL HOMESTEAD SURROUNDING TWO LAKES, BIG RAINBOW AND LITTLE RAINBOW, IN SOUTHERN GRATIOT COUNTY, MICHIGAN, INCLUDING BEACH AREAS, COMMON GROUNDS, AND A DAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RAINBOW LAKE MAINTENANCE CORPORATION (RLMC) PROVIDES MAINTENANCE OF THE PARKS AND BEACHES, MAINTENANCE OF THE DOCKS AND A BEACH HOUSE, RESTOCKS FISH IN THE TWO PRIVATE LAKES, AND PROVIDES WEED CONTROL AND SECURITY FOR THE OWNERS AND MEMBERS OF THE CORPORATION. IN THE FISCAL YEAR ENDED JULY 31, 2023, THE RLMC SERVED APPROXIMATELY 750 MEMBERS/PROPERTY OWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gil Barish Trustee | Trustee | 2 | $0 |
John Cory Maclennan Trustee | Trustee | 2 | $0 |
Theron Shinew Trustee | Trustee | 2 | $0 |
Fred Gibbs Trustee | Trustee | 2 | $0 |
Ed Setterington Trustee | Trustee | 2 | $0 |
Greg Brooks Treasurer | OfficerTrustee | 15 | $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 | $173,480 |
| Investment income | $1,545 |
| 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 | -$252 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $174,773 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $57,334 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,737 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,446 |
| Fees for services: Accounting | $6,370 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $998 |
| Advertising and promotion | $15,239 |
| Office expenses | $6,954 |
| Information technology | $2,139 |
| Royalties | $0 |
| Occupancy | $6,142 |
| Travel | $2,939 |
| 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 | $21,152 |
| Insurance | $9,685 |
| All other expenses | $3 |
| Total functional expenses | $193,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $232,029 |
| 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 | $0 |
| Net Land, buildings, and equipment | $390,245 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $622,274 |
| Accounts payable and accrued expenses | $129 |
| 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 | $129 |
| Net assets without donor restrictions | $622,145 |
| 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 | $622,274 |