Veterans On The Lake Resort
- Assets
- $1.4m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 22
- Location
- Ely, MN
- Founding
- 06/1984
- Data as of
- 12/2022
- EIN
- 41-1439548
Organization Overview
Veterans On The Lake Resort is located in Ely, MN. The organization was established in 1984. According to its NTEE Classification (W30) the organization is classified as: Military & Veterans Organizations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Veterans On The Lake Resort employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Veterans On The Lake Resort 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 12/2022, Veterans On The Lake Resort generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 38.3% each year . All expenses for the organization totaled $357.6k during the year ending 12/2022. While expenses have increased by 4.6% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE RESORT SERVICES TO DISABLED VETERANS, DISABLE MEMBERS OF THE PUBLIC, AND THEIR FAMLIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LODGING, RECREATIONAL , AND OTHER SPORTING ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Saari Director | Trustee | 2 | $0 |
Tony Rechichi Director | Trustee | 2 | $0 |
Nathan Burr Director | Trustee | 2 | $0 |
Erik Johnson Director | Trustee | 2 | $0 |
Gene Demko Director | Trustee | 2 | $0 |
Mike Forsman Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $219,666 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $803,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,022,666 |
| Total Program Service Revenue | $284,285 |
| Investment income | $565 |
| 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 | $7,531 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,332,959 |
| 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 | $169,493 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,967 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $485 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,906 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $53,728 |
| Travel | $0 |
| 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 | $55,680 |
| Insurance | $22,611 |
| All other expenses | $20,662 |
| Total functional expenses | $357,615 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $185,874 |
| Savings and temporary cash investments | $127,244 |
| 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 | $2,112 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,096,176 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,411,406 |
| 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 | $1,360,406 |
| Net assets with donor restrictions | $51,000 |
| 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 | $1,411,406 |