Lake City Community Development Association
- Assets
- $36.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Lake City, IA
- Founding
- 02/1988
- Data as of
- 12/2020
- EIN
- 42-1295868
Organization Overview
Lake City Community Development Association is located in Lake City, IA. The organization was established in 1988. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake City Community Development Association 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 12/2020, Lake City Community Development Association generated $9.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $11.9k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (7.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3
OUR ORGANIZATION RAISES FUNDS TO USE IN THE BETTERMENT OF OUR COMMUNITY. WE ALSO USE THE FUNDS RAISED ANNUALLY TO LOAN OUT TO NEW EXISTING BUSINESSES. WE HOLD FUNCTIONS EVERY YEAR TO RAISE FUNDS TO USE TO MARKET OUR TOWN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cindy Carstens Treasurer | 1 | $0 | |
Nick Gorden President | 5 | $0 | |
Eric Peterson Vice President | 1 | $0 | |
Mackenzie Gorden Director | 10 | $0 | |
Jill Heisterkamp Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $4,590 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $4,412 |
| Other Revenue | $311 |
| Total Revenue | $9,313 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $4,400 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $2,385 |
| Other expenses | $5,115 |
| Total expenses | $11,900 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $14,772 |
| Other assets | $0 |
| Total assets | $36,785 |
| Total liabilities | $0 |
| Net assets or fund balances | $36,785 |