Lovin Lake County
- Assets
- $1.2m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 4
- Location
- Two Harbors, MN
- Founding
- Data as of
- 12/2023
- EIN
- 83-3336356
Organization Overview
Lovin Lake County is located in Two Harbors, MN. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Lovin Lake County employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lovin Lake County 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, Lovin Lake County generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (12.8%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Lovin Lake County has awarded 44 individual grants totaling $940,612. 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
TO PROMOTE TOURISM AND FESTIVALS IN LAKE COUNTY, MINNESOTA
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE TOURISM AND AREA FESTIVALS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Jordahl Board Chair | OfficerTrustee | 1 | $0 |
Dustin Goutermont Board Secretary | OfficerTrustee | 0.5 | $0 |
Michael Cavallin Treasurer | OfficerTrustee | 1 | $0 |
Michelle Haugen Board Member | Trustee | 0.5 | $0 |
Sara Cuypers Board Member | Trustee | 0.5 | $0 |
Rick Goutermont Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $15,000 |
| 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 | $15,000 |
| Total Program Service Revenue | $1,686,569 |
| Investment income | $625 |
| 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 | $1,702,194 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $594,795 |
| Grants and other assistance to domestic individuals. | $55,345 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $71,700 |
| Compensation of current officers, directors, key employees. | $14,340 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $154,052 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,851 |
| Payroll taxes | $17,750 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $846,152 |
| Office expenses | $13,514 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,905 |
| Travel | $19,441 |
| 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 | $2,981 |
| Insurance | $1,016 |
| All other expenses | $45,530 |
| Total functional expenses | $1,863,306 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $364,694 |
| Savings and temporary cash investments | $701,514 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,022 |
| 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 | $48,777 |
| Net Land, buildings, and equipment | $115,792 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,240,799 |
| Accounts payable and accrued expenses | $173,026 |
| 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 | $8,498 |
| Total liabilities | $181,524 |
| Net assets without donor restrictions | $1,059,275 |
| 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 | $1,240,799 |
Grants Awarded
Over the last fiscal year, Lovin Lake County has awarded $486,508 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF TWO HARBORS PURPOSE: Promotional events | $9,000 |
KNIFE RIVER RECREATION COUNCIL PURPOSE: Promotional event | $20,000 |
ROCKY WALL PRODUCTIONS PURPOSE: Promotional event | $27,000 |
FALL LAKE TOWNSHIP PURPOSE: Promotional events | $120,000 |
LAKE COUNTY CHAMBER OF COMMERCE PURPOSE: Promotional events | $90,000 |
BURLINGTON STATION PURPOSE: Promotional events | $10,000 |