Friends Of Lakeside Lab Inc
- Assets
- $5.0m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 2
- Location
- Milford, IA
- Founding
- 08/1995
- Data as of
- 12/2023
- EIN
- 42-1437094
Organization Overview
Friends Of Lakeside Lab Inc is located in Milford, IA. The organization was established in 1995. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 12/2023, Friends Of Lakeside Lab Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Lakeside Lab 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 12/2023, Friends Of Lakeside Lab Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 27.5% each year . All expenses for the organization totaled $385.9k during the year ending 12/2023. While expenses have increased by 8.9% per year over the past 5 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.
Since 2020, Friends Of Lakeside Lab Inc has awarded 22 individual grants totaling $580,072. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FRIENDS OF LAKESIDE LAB SUPPORTS IOWA LAKESIDE LABORATORY AND REGENTS RESOURCE CENTER AND SERVES AS A COMMUNITY RESOURCE TO CHAMPION THE LAB'S WORK IN WATER QUALITY MONITORING ENVIRONMENTAL EDUCATION AND RESEARCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS: STUDENTS ATTENDING IOWA LAKESIDE LABORATORY RESOURCE CENTER ILLRC DURING THE THE SUMMER OF 2023 RECEIVED SCHOLARSHIPS DESIGNATED TO PAY FOR ROOM AND BOARD AND OR TUITION FOR EACH WEEK THAT THE STUDENT ATTENDED CLASSES AT ILLRC. IN ADDITION TWENTY-FIVE STUDENTS WHO RECEIVED SCHOLARSHIPS PARTICIPATED IN CURRENT RESEARCH PROJECTS WITH FACULTY MEMBERS.
PUBLIC PROGRAMMING: CITIZEN SCIENCE: WATER TESTING: WATER SAMPLES ARE COLLECTED BY VOLUNTEERS IN 9 LAKES IN THE IOWA GREAT LAKES WATERSHED. WATER SAMPLE ANALYSIS WAS COMPLETED BY THE STATE HYGIENIC LAB IN THE BOVBJERG WATER CHEMISTRY LAB ON THE CAMPUS OF ILLRC IN MILFORD IOWA. THE ILLRC PROVIDES LAB SPACE FOR THE STATE HYGIENIC LAB.
ENVIRONMENTAL EDUCATION: FRIENDS OF LAKESIDE LAB SUPPORTS A SCIENTIST IN RESIDENCE AND AN EDUCATION COORDINATOR. THE SCIENTIST IN RESIDENCE IS RESPONSIBLE FOR DIRECTING RESEARCH FOR SUMMER RESEARCH INTERNS AS WELL AS WORKING ON THEIR OWN RESEARCH PROJECTS. THE EDUCATION COORDINATOR IS RESPONSIBLE FOR OUTREACH EDUCATION PROGRAMS FOR LOCAL SCHOOL DISTRICTS AND LEARNERS OF ALL AGES. PRE-K-GRADE 12 PROGRAMS ARE HELD DURING THE SCHOOL YEAR. SUMMER CAMPS AND EVENING PROGRAMS ARE HELD DURING THE SUMMER MONTHS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Madeline Gulick Executive Director - 6 Months | Officer | 40 | $27,895 |
Emily Baker Executive Director - 55 Months | Officer | 32 | $22,000 |
Joan Gronstal Director - President | OfficerTrustee | 10 | $0 |
Randy Gould Director - Vice President | OfficerTrustee | 5 | $0 |
Barbara Mendenhall Director - Treasurer | OfficerTrustee | 10 | $0 |
Kathy Kleen Director - Secretary | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $45,353 |
| Fundraising events | $972,204 |
| Related organizations | $0 |
| Government grants | $28,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,045,557 |
| Total Program Service Revenue | $35,800 |
| Investment income | $102,450 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $34,136 |
| Net Income from Fundraising Events | -$9,309 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,208,634 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $219,735 |
| 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. | $49,895 |
| Compensation of current officers, directors, key employees. | $49,895 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,764 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,016 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $22,068 |
| Fees for services: Investment Management | $26,320 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,661 |
| Office expenses | $6,510 |
| Information technology | $2,744 |
| 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 | $5,958 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $899 |
| All other expenses | $0 |
| Total functional expenses | $385,934 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $60,431 |
| Savings and temporary cash investments | $32,483 |
| 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 | $4,895,559 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,988,473 |
| Accounts payable and accrued expenses | $688 |
| Grants payable | $9,000 |
| 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 | $9,688 |
| Net assets without donor restrictions | $45,866 |
| Net assets with donor restrictions | $4,932,919 |
| 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 | $4,988,473 |
Grants Awarded
Over the last fiscal year, Friends Of Lakeside Lab Inc has awarded $197,035 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
IOWA LAKESIDE LABORATORY RESOURCE CENTER PURPOSE: Outreach Education coordinator | $47,000 |
IOWA LAKESIDE LABORATORY RESOURCE CENTER PURPOSE: Scientist in Residence | $30,327 |
IOWA LAKESIDE LABORATORY RESOURCE CENTER PURPOSE: College student scholarships | $47,417 |
IOWA LAKESIDE LABORATORY RESOURCE CENTER PURPOSE: College student internships | $62,047 |
IOWA LAKESIDE LABORATORY RESOURCE CENTER PURPOSE: Writer in Residence fellowships | $3,000 |
IOWA LAKESIDE LABORATORY RESOURCE CENTER PURPOSE: Fixed administrative costs | $7,244 |