Lake Superior Community Partnerships Inc
- Assets
- $888.7k
- Revenue
- $902.6k
- Investments
- $0.0
- Employees
- 15
- Location
- Marquette, MI
- Founding
- 04/1998
- Data as of
- 12/2023
- EIN
- 38-3399409
Organization Overview
Lake Superior Community Partnerships Inc is located in Marquette, MI. The organization was established in 1998. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Lake Superior Community Partnerships Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Superior Community Partnerships Inc 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 Superior Community Partnerships Inc generated $902.6k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $880.9k during the year ending 12/2023. While expenses have increased by 2.7% per year over the past 9 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE LAKE SUPERIOR COMMUNITY PARTNERSHIP IS THE MARQUETTE COUNTY REGIONS LEADING RESOURCE FOR ECONOMIC DEVELOPMENT, PROVIDING A WIDE VARIETY OF AFFORDABLE AND EFFECTIVE DEVELOPMENT SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOSTER COMMERCIAL DEVELOPMENT ECONOMIC DEVELOPMENT - PROVIDE ECONOMIC DEVELOPMENT AND TRAINING 2023 HIGHLIGHTS INCLUDED CHILDCARE SPARK - COMBINED THE BEST OF BUSINESS DEVELOPMENT PRINCIPLES, BUSINESS ACCELERATOR PRACTICES, AND EARLY CHILDHOOD EDUCATION KNOWLEDGE TO ASSIST PARTICIPANTS IN QUICKLY STANDING UP IN-HOME CHILDCARE BUSINESSES ALL THREE PARTICIPANTS NOW HAVE LICENSES AND ARE OPEN FOUR ADDITIONAL PARTICIPANTS IN THE NEW HYBRID VERSION ANTICIPATED REGIONAL EXPANSION UNDERWAY MARQUETTE COUNTY HOUSING TARGET MARKET ANALYSIS - PROVIDED CRITICAL DATA ON CURRENT AND FUTURE MARKET TRENDS FOR HOUSING INCLUDING DEMAND, DEMOGRAPHICS, AND MORE. HAVING SUCH DATA AVAILABLE REMOVES A BARRIER TO ENCOURAGING NEW HOUSING DEVELOPMENT MARQUETTE SAWYER AIR SERVICE DEMAND AND LEAKAGE STUDY - PROVIDED CRITICAL INSIGHT INTO MARKET FORCES WE ARE CONTENDING WITH AS WE RE-ESTABLISH AND EXPAND SERVICE AT OUR REGIONAL AIRPORT CENTRAL U.P. SMALL BUSINESS SUPPORT HUB - A COLLABORATION OF SEVEN STRATEGIC PARTNERS. THE HUB WILL COORDINATE AND EXPAND ACCESS TO SMALL BUSINESS SUPPORT RESOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Germain CEO | Officer | 40 | $97,846 |
Scott Knaffla Chairman | OfficerTrustee | 1 | $0 |
Rhea Dever Vice Chariman | OfficerTrustee | 1 | $0 |
David Aro Secretary | OfficerTrustee | 1 | $0 |
Bryan Deaugustine Treasurer | OfficerTrustee | 1 | $0 |
Roxanne Daust Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $225,982 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,501 |
| All other contributions, gifts, grants, and similar amounts not included above | $95,756 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $333,239 |
| Total Program Service Revenue | $504,933 |
| Investment income | $7,910 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $55,110 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $902,623 |
| 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. | $97,846 |
| Compensation of current officers, directors, key employees. | $35,339 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $340,831 |
| Pension plan accruals and contributions | $9,613 |
| Other employee benefits | $27,444 |
| Payroll taxes | $32,245 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $240 |
| Fees for services: Accounting | $5,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,542 |
| Office expenses | $15,462 |
| Information technology | $29,153 |
| Royalties | $0 |
| Occupancy | $46,778 |
| Travel | $12,658 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,765 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,934 |
| Insurance | $4,367 |
| All other expenses | $191,963 |
| Total functional expenses | $880,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99,067 |
| Savings and temporary cash investments | $547,294 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $101,092 |
| 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 | $2,665 |
| Net Land, buildings, and equipment | $11,726 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $126,826 |
| Total assets | $888,670 |
| Accounts payable and accrued expenses | $67,927 |
| Grants payable | $0 |
| Deferred revenue | $259,847 |
| 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 | $180,719 |
| Total liabilities | $508,493 |
| Net assets without donor restrictions | $380,177 |
| 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 | $888,670 |