Lake Michigan College Foundation

Organization Overview

Lake Michigan College Foundation is located in Benton Harbor, MI. The organization was established in 1987. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Michigan College 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 06/2023, Lake Michigan College Foundation generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.8%) each year. All expenses for the organization totaled $1.7m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF THE LAKE MICHIGAN COLLEGE FOUNDATION IS TO RAISE FUNDS IN SUPPORT OF LAKE MICHIGAN COLLEGE AND ITS STUDENTS. THE LAKE MICHIGAN COLLEGE FOUNDATION IS THE MAIN FUND-RAISING ORGANIZATION OF LAKE MICHIGAN COLLEGE FOR THE SOLICITATION, RECEIPT AND MANAGEMENT OF ALL PRIVATE GIFTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION EXISTS TO SUPPORT LAKE MICHIGAN COLLEGE AND ITS STUDENTS. SCHOLARSHIPS WERE AWARDED TO VARIOUS STUDENTS AND PAYMENTS WERE MADE TO SUPPORT VARIOUS COLLEGE PROGRAMS.


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Board, Officers & Key Employees

Name (title)Compensation
Trevor Kubatzke
Director/college President
$0
Kelli Hahn
Treasurer/college CFO
$0
Doug Schaffer
Secretary
$0
Randy Bettich
President
$0
Kelly Ferneau
Director/vice President
$0
David Schaffer
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$135,203
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$1,050,741
Noncash contributions included in lines 1a–1f $37,132
Total Revenue from Contributions, Gifts, Grants & Similar$1,185,944
Total Program Service Revenue$0
Investment income $842,718
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$358,238
Net Income from Fundraising Events -$32,217
Net Income from Gaming Activities $18,500
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,656,707

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