Lake Effect Conservancy
- Assets
- $800.9k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Wayzata, MN
- Founding
- 11/2016
- Data as of
- 12/2023
- EIN
- 81-3649096
Organization Overview
Lake Effect Conservancy is located in Wayzata, MN. The organization was established in 2016. According to its NTEE Classification (C32) the organization is classified as: Water Resources, Wetlands Conservation & Management, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Effect Conservancy 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, Lake Effect Conservancy generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 36.7% each year . All expenses for the organization totaled $634.6k during the year ending 12/2023. 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
THE LAKE EFFECT CONSERVANCY IS A NONPROFIT ORGANIZATION THAT SERVES AS AN ADVOCATE AND FUNDRAISING AGENCY FOR THE PANOWAY ON WAYZATA BAY INITIATIVE, A PUBLIC-PRIVATE PARTNERSHIP WITH THE CITY OF WAYZATA. THE GOAL OF THIS INITIATIVE IS TO PRESERVE AND ENHANCE THE CITY'S GREATEST ASSET, LAKE MINNETONKA, FOR FUTURE GENERATIONS AND TO HELP IMPROVE THE LAKESIDE ECOSYSTEM WITH SIGNIFICANT BENEFITS TO THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LED BY TWO ENLIGHTENED, LEAD DONORS, THE CONSERVANCY WAS ABLE TO RAISE MORE THAN $1,200,000 IN PRIVATE FUNDING TO COMPLETE THE CITY'S NEEDS FOR PHASE 2 OF THE PROJECT. THIS WAS A MAJOR ACCOMPLISHEMENT OF THE CONSERVANCY'S MISSION. CONSTRUCTION BEGAN ON WAYZATA'S 100-YEAR DREAM FOR A LAKESIDE BOARDWALK, NOW CALLED THE PANOWAY "LAKEWALK", RENOVATING ITS DETERIORATING PUBLIC DOCKS AND RENEWING ITS WATERFRONT ECOLOGY. THE PROJECT WAS SUBSEQUENTLY COMPLETED IN JUNE 2024. WE CONTINUED OUR EFFORTS IN RAISING FUNDS AND AWARENESS OF PHASE 3 OF THE PANOWAY PROJECT, WHICH INCLUDES PRESERVATION AND RENOVATION OF THE SECTION FOREMAN HOUSE AND THE ECO PARK. WE RECEIVED OVER $75,000 OF DONATIONS EARMARKED FOR THIS PHASE OF THE PROJECT IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Mullin Director | Trustee | 2 | $0 |
Barry J Carlson Director | Trustee | 2 | $0 |
Blake Sandvold Chair | OfficerTrustee | 2 | $0 |
Bob Ambrose Director | Trustee | 2 | $0 |
Dan Koch Treasurer | OfficerTrustee | 2 | $0 |
Frank Bomier Director | 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 | $1,295,881 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,295,881 |
| Total Program Service Revenue | $0 |
| Investment income | $11,507 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,307,388 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $513,463 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $106,959 |
| Advertising and promotion | $1,659 |
| Office expenses | $0 |
| Information technology | $97 |
| 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 | $1,068 |
| All other expenses | $0 |
| Total functional expenses | $634,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $800,918 |
| 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 | $800,918 |
| 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 | $800,918 |
| Net assets with donor restrictions | $0 |
| 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 | $800,918 |