Little Traverse Bay Foundation
- Assets
- $60.5k
- Revenue
- $90.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Ledge, MI
- Founding
- Data as of
- 12/2021
- EIN
- 84-4165681
Organization Overview
Little Traverse Bay Foundation is located in Grand Ledge, MI. According to its NTEE Classification (W40) the organization is classified as: Public Transportation Systems, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Little Traverse Bay 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 12/2021, Little Traverse Bay Foundation generated $90.5k 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 (35.3%) each year. All expenses for the organization totaled $95.1k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
I) LESSENING THE BURDENS OF GOVERNMENT AND IMPROVING THE ENVIRONMENT BY REDUCING FUEL EMISSIONS BY PROVIDING A FERRY SERVICE BETWEEN THE CITIES OF PETOSKEY AND HARBOR SPRINGS; (II) PROVIDING ACCESS TO THE GREAT LAKES THAT OTHERWISE MAY NOT BE AVAILABLE TO ALL IN THE COMMUNITY IN NORTHERN MICHIGAN; (III) PROVIDING WATER-BASED EDUCATION AND AWARENESS OF WATER RESOURCES AND OTHER ASPECTS OF THE GREAT LAKES AND THE NORTHERN MICHIGAN COMMUNITY; AND (IV) CONDUCTING ALL ACTIVITIES INCIDENTAL OR NECESSARY TO ACCOMPLISH THE FOREGOING PURPOSES OR OTHERWISE PERMITTED BY SECTION 50L(C)(3) OF THE CODE AND THE REGULATIONS PROMULGATED THEREUNDER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING WATER-BASED EDUCATION AND AWARENESS OF WATER RESOURCES AND OTHER ASPECTS OF THE GREAT LAKES AND THE NORTHERN MICHIGAN COMMUNITY - IN 2021 4,057 PASSENGERS WERE SERVED.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Chamberlain President | OfficerTrustee | 3 | $0 |
Brad Rellinger Secretary | OfficerTrustee | 3 | $0 |
Chip Everest Treasurer | OfficerTrustee | 3 | $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 | $50,970 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,970 |
| Total Program Service Revenue | $42,564 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$3,508 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $468 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $90,494 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $0 |
| Advertising and promotion | $3,189 |
| Office expenses | $5,011 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,500 |
| 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 | $5,329 |
| Insurance | $449 |
| All other expenses | $7,531 |
| Total functional expenses | $95,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $933 |
| 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 | $59,561 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $60,494 |
| 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 | $0 |
| 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 | $60,494 |
| Total liabilities and net assets/fund balances | $60,494 |