Sportsmens Club Of Lake Vermilion Inc
- Assets
- $147.5k
- Revenue
- $104.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Tower, MN
- Founding
- 02/1980
- Data as of
- 06/2023
- EIN
- 41-1311744
Organization Overview
Sportsmens Club Of Lake Vermilion Inc is located in Tower, MN. The organization was established in 1980. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sportsmens Club Of Lake Vermilion Inc 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, Sportsmens Club Of Lake Vermilion Inc generated $104.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $87.9k during the year ending 06/2023. 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
TO PROMOTE AND ENHANCE THE OUTDOOR EXPERIENCE OF LAKE VERMILION FOR PRESENT AND FUTURE GENERATIONS, TO PROTECT AND IMPROVE THE WATER QUALITY OF LAKE VERMILION, AND TO EDUCATE THE CLUB MEMBERS AND THE PUBLIC REGARDING ISSUES, WHICH IMPACT LAKE VERMILION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE AND ENHANCE THE OUTDOOR EXPERIENCE OF LAKE VERMILION FOR PRESENT AND FUTURE GENERATIONS BY: 1. MAINTAINING AND IMPROVING THE LAKE VERMILION FISHERY 2. PROMOTING "CATCH & RELEASE" 3. PROMOTING SAFE BOATING PRACTICES 4. ESTABLISHING AND MAINTAINING SHORE LUNCH/PICNIC SITES 5. ESTABLISHING AND MAINTAINING A NIGHT NAVIGATIONAL AID SYSTEM 6. MONITORING AND PROTECTING AREA WILDLIFETO PROTECT AND IMPROVE THE WATER QUALITY OF LAKE VERMILION BY: 1. MONITORING WATER QUALITY IN COOPERATION WITH INTERESTED GOVERNMENT AGENCIES 2. PROMOTING SHORELINE PRESERVATION AND RE-VEGETATION 3. MONITORING EXOTIC SPECIES AND PREVENTING THEIR SPREAD 4. PROMOTING SOUND CONSERVATION PRACTICES IN THE LAKE VERMILION WATERSHEDTO EDUCATE CLUB MEMBERS AND THE PUBLIC REGARDING ISSUES WHICH IMPACT LAKE VERMILION BY: 1. PUBLISHING A PERIODIC NEWSLETTER AND DISTRIBUTING IT TO CLUB MEMBERS AND THE PUBLIC 2. MAINTAINING AN INTERNET WEBSITE CONTAINTING PREVIOUSLY PUBLISHED NEWSLETTERS AND OTHER INFORMATION ABOUT THE CLUB AND LAKE VERMILION 3. PUBLISHING NEWS RELEASES AND ARTICLES PERTAINING TO CLUB ACTIVITIES IN OTHER PUBLICATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Grosshauser Director | Trustee | 1 | $0 |
Bob Pearson Director | Trustee | 1 | $0 |
Gary Haugen Director | Trustee | 1 | $0 |
Lori Ptak Director | Trustee | 1 | $0 |
Craig Beveroth Director | Trustee | 1 | $0 |
Jill Korpela-Bontens Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $25,945 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $76,183 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $102,128 |
| Total Program Service Revenue | $0 |
| Investment income | $1,912 |
| 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 | -$2,215 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $104,319 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,105 |
| Office expenses | $1,881 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,141 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,597 |
| All other expenses | $600 |
| Total functional expenses | $87,876 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,304 |
| Savings and temporary cash investments | $75,228 |
| 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 | $11 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $147,543 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $121,136 |
| Net assets with donor restrictions | $26,407 |
| 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 | $147,543 |