Glen Lake Parent - Teacher Organization
- Assets
- $754.2k
- Revenue
- $774.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Minnetonka, MN
- Founding
- 05/2003
- Data as of
- 06/2023
- EIN
- 41-1983901
Organization Overview
Glen Lake Parent - Teacher Organization is located in Minnetonka, MN. The organization was established in 2003. According to its NTEE Classification (B94) the organization is classified as: Parent & Teacher Groups, 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. Glen Lake Parent - Teacher Organization 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, Glen Lake Parent - Teacher Organization generated $774.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 58.6% each year . All expenses for the organization totaled $80.6k during the year ending 06/2023. While expenses have increased by 9.3% per year over the past 7 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 GLEN LAKE PARENT-TEACHER ORGANIZATION SUPPORTS STUDENTS AT GLEN LAKE ELEMENTARY WITH WELL-BEING AT HOME, SCHOOL AND IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLASSROOM ENRICHMENT: THE PTO CONTRIBUTES TO NUMEROUS CLASSROOM PROGRAMS BENEFITING ALL STUDENTS. THESE CONTRIBUTIONS INCLUDE FINANICAL SUPPORT FOR FIELD TRIPS ALONG WITH SUPPORT FOR ART, MUSIC, SPECIAL EDUCATION AND PHYSICAL EDUCATION PROGRAMS. ALL STUDENTS ENROLLED AT GLEN LAKE ELEMENTARY BENEFIT FROM PTO SUPPORTED PROGRAMS. IN 2023, A PLAYGROUND PROJECT WAS LAUNCHED WITH THE GOAL OF CREATING A NEW AND FULLY ACCESSIBLE PLAYGROUND. KEY FEATURES INCLUDE A WHEELCHAIR SWING AND MERRY-GO-ROUND. THIS WILL CREATE EQUITABLE PLAY OPPORTUNITIES TO GROW CONNECTIONS AND FRIENDSHIPS BETWEEN STUDENTS WHO USE WHEELCHAIRS, AND THEIR PEERS. ACCESSIBLE EQUIPMENT WILL GREATLY ENHANCE THE RECESS AND GENERAL OUTDOOR EXPERIENCE FOR OUR STUDENTS WHO USE WHEELCHAIRS WHILE BEING AN INCREDIBLE ASSET TO THE COMMUNITY.
SCHOLARSHIPS, COMMUNITY OUTREACH & OTHER SUPPORT: THE ORGANIZATION ENGAGES IN COMMUNITY OUTREACH AS WELL AS TEACHER APPRECIATION ON BEHALF OF STUDENTS AND PARENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Lovestrand President | OfficerTrustee | 2 | $0 |
Audrey Leicher Vice Preside | OfficerTrustee | 2 | $0 |
Rachel Klick Auditor | OfficerTrustee | 2 | $0 |
Kelly Knewtson Secretary | OfficerTrustee | 2 | $0 |
Sara Lazorik Treasurer | OfficerTrustee | 2 | $0 |
Jessie Jacobson Board Member | Trustee | 2 | $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 | $711,900 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $711,900 |
| Total Program Service Revenue | $0 |
| Investment income | $233 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $62,355 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $126 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $774,614 |
| 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 | $1,482 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $805 |
| Office expenses | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $5,059 |
| Total functional expenses | $80,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $754,171 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $754,171 |
| 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 | $51,426 |
| Net assets with donor restrictions | $702,745 |
| 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 | $754,171 |