Lake Mills Scholarship Foundation
- Assets
- $342.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Lake Mills, IA
- Founding
- 05/2017
- Data as of
- 12/2023
- EIN
- 81-4953829
Organization Overview
Lake Mills Scholarship Foundation is located in Lake Mills, IA. The organization was established in 2017. According to its NTEE Classification (B90) the organization is classified as: Educational Services, 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. Lake Mills Scholarship Foundation 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 Mills Scholarship Foundation generated $87.5k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $4.2k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (34.7%) per year over the past 4 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
2023
Describe the Organization's Program Activity:
Part 3
THE PURPOSE OF THIS ORGANIZATION IS TO PROVIDE SCHOLORSHIPS TO THE LAKE MILLS HIGH SCHOOL STUDENTS AS AN INCENTIVE FOR HIGHER LEARNING AND ACHIEVEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Swenson Vice-Preside | 0 | $0 | |
James Scholbrock Secretary | 0 | $0 | |
Scott Drexler Treasurer | 0 | $0 | |
Mike Gaskill President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,882 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $56,614 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $87,496 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $830 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $3,350 |
| Total expenses | $4,180 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $342,741 |
| Other assets | $0 |
| Total assets | $342,741 |
| Total liabilities | $23,000 |
| Net assets or fund balances | $319,741 |