To assist local businesses in their growth in the manitowoc county area and to attract new businesses to the manitowoc county area.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Run by 33 volunteers and 6 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $55K a year · 19% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$79K
to officers and key staff · 22% of spending
Worth a look: pay to officers and key staff is 22% of spending; over 20%.
Pt VII · Sec A
8 mo
of spending, in cash
Looks good: 7.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $18K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$47K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 19 voting members
Looks good: 19 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$299K
-16% vs prior year
Spent
$351K
Net assets
$232K
By yearFY2020–FY2024
Revenue
$299K
FY2024▼ -16%
Tap a bar for its year
Revenue by fiscal year
FY2020$251K
FY2021$261K
FY2022$255K
FY2023$355K
FY2024$299K
Expenses
$351K
FY2024▼ -8%
Tap a bar for its year
Expenses by fiscal year
FY2020$245K
FY2021$235K
FY2022$481K
FY2023$382K
FY2024$351K
Net assets
$232K
FY2024▼ -19%
Tap a bar for its year
Net assets by fiscal year
FY2020$504K
FY2021$538K
FY2022$312K
FY2023$285K
FY2024$232K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2005.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Fundraising 8% · $26K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

26 people listed on the 990; $79K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$78,528Pt VII · Sec A
Board Member - April 2024
$0Pt VII · Sec A
Ex Officio
$0Pt VII · Sec A
Ex Officio
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Ex Officio
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Jamie Zastrow’s $79K as Executive Director is at the 54th percentile of top reported officer pay among 1708 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jamie Zastrow$78,528$77,818$73,495$53,728—
Peter Wills————$74,571

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Progress Lakeshore INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps local businesses grow and attracts new ones to Manitowoc County.

Questions for Progress Lakeshore INC

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Provided by the organization

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3 programs · in their own filed words · FY2024
01

Excellence in economic development awards breakfast is a celebration to recognize businesses and individuals who create a positive business climate in manitowoc county. There are 5 award categories: (1) entrepreneurial achievement award, (2) neighborhood development award, (3) corporate investment award, (4) economic accelerator of the…

Pt IX · col B
02

Striving to support the success of our early-stage businesses, progress lakeshore offers a business mentoring program called circles of 7, or c7. Based on the idea that businesses learn best from each other, a seasoned local business owner is assigned to a group of six early-stage businesses to form a mentor-protege support circle.

Pt IX · col B
03

Shorter than our etp course, our entrepreneurial boot camps are designed to be a starting point for exploring the mindset, resources and regulatory environment entrepreneurs need to consider when starting a business. In 2024, we had 29 participants between our four boot camps.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 2 funders$18K
Grants paid · 1 grant · $200K · 2022–2022

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$299K
Ln 12
Gifts and grantsLn 1h$277K
Fees for servicesLn 2g$17K
Investment incomeLn 3$11K
Money outPt IX
$351K
Ln 25
Fundraisingcol D$26K
Owns and owesPt X
$232K
net assets · Ln 32
Cash and savingsLn 1–2$230K
Total assetsLn 16$279K
LiabilitiesLn 26$47K
PeoplePt VI, VII
26
listed · VII A
PaidVII A1
Voting boardVI 1a19
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$277K
Government grantsLn 1e$98K
Noncash giftsLn 1g$15K
Fundraising eventsLn 1c$26K
Fees for servicesLn 2g$17K
Investment incomeLn 3$11K
Total revenueLn 12$299K
Assets in detailPt X, end of year
CashLn 1$25K
SavingsLn 2$205K
Cash and savings togetherLn 1–2$230K
Land, buildings, equipmentLn 10c$10K
Other assetsLn 15$23K
Total assetsLn 16$279K
LiabilitiesLn 26$47K
Net assetsLn 32$232K
OperationsPt I, VI
EmployeesI 56
VolunteersI 633
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$288K$230K
Land, buildings, equipmentLn 10c$11K$10K
Total assetsLn 16$347K$279K
LiabilitiesLn 26$62K$47K
Net assetsLn 32$285K$232K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$79K
Other salaries and wagesLn 7$136K
Pension plan contributionsLn 8$274
Other employee benefitsLn 9$2K
Payroll taxesLn 10$17K
Legal feesLn 11b$209
Accounting feesLn 11c$15K
Advertising and promotionLn 12$2K
Office expensesLn 13$9K
Information technologyLn 14$1K
OccupancyLn 16$22K
TravelLn 17$5K
Conferences, conventions and meetingsLn 19$367
Depreciation, depletion and amortizationLn 22$2K
InsuranceLn 23$4K
Other expenses (24a–d)Ln 24$54K
All other expensesLn 24e$3K
Total functional expensesLn 25$351K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $299K$351K−$53K$232K 990 PDF
FY2023 $355K$382K−$27K$285K 990 PDF
FY2022 $255K$481K−$226K$312K 990 PDF
FY2021 $261K$235K$26K$538K 990 PDF
FY2020 $251K$245K$6K$504K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $298,559 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $335,299$276,777
I-9 Program service revenuePrior year $13,111$16,596
I-10 Investment incomePrior year $9,863$11,344
I-11 Other revenuePrior year −$3,191−$6,158
I-12 Total revenuePrior year $355,082$298,559
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $229,606$233,189
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $152,414$118,139
I-18 Total expensesPrior year $382,020$351,328
I-19 Revenue less expensesPrior year −$26,938−$52,769
Part VI · Governance 19 of 19 board members independent, no flags
VI-1a Voting members of the governing body19
VI-1b Independent voting members19
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $298,559 across 10 lines filed
Lines not itemized here account for $1,150 of total revenue; see the IRS return.
VIII-1c Fundraising events$26,500
VIII-1e Government grants$98,497
VIII-1f All other contributions, gifts and grants$151,780
VIII-1g Noncash contributions (included above)$14,605
VIII-1h Total contributions, gifts and grants$276,777
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $16,596$16,596
VIII-3 Investment incomeExcluded from tax $11,344$11,344
VIII-6 Net rental income or lossExcluded from tax $550$550
VIII-8 Net income from fundraising eventsExcluded from tax −$7,858−$7,858
VIII-12 Total revenueRelated to mission $17,746 · Unrelated business $0 · Excluded from tax $4,036$298,559
Part IX · Statement of functional expenses $351,328 across 17 lines filed
IX-5 Pay of current officers, directors and key staff$78,528
IX-7 Other salaries and wages$136,059
IX-8 Pension plan contributions$274
IX-9 Other employee benefits$1,507
IX-10 Payroll taxes$16,821
IX-11b Legal fees$209
IX-11c Accounting fees$15,250
IX-12 Advertising and promotion$2,391
IX-13 Office expenses$9,289
IX-14 Information technology$1,446
IX-16 Occupancy$22,199
IX-17 Travel$4,536
IX-19 Conferences, conventions and meetings$367
IX-22 Depreciation, depletion and amortization$2,011
IX-23 Insurance$3,986
IX-24 Other expenses (24a–d)$53,808
IX-24e All other expenses$2,647
IX-25 Total functional expenses$351,328
Part X · Balance sheet $279,218 assets, 15 lines filed
Asset lines not itemized here account for $7,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $9,481$24,980
X-2 Savings and temporary cash investmentsStart of year $278,148$205,370
X-4 Accounts receivableStart of year $2,846$6,549
X-9 Prepaid expenses and deferred chargesStart of year $4,981$1,521
X-10c Land, buildings and equipment, netStart of year $10,995$10,352
X-15 Other assetsStart of year $40,876$23,446
X-16 Total assetsStart of year $347,327$279,218
X-17 Accounts payable and accrued expensesStart of year $14,609$13,847
X-19 Deferred revenueStart of year $7,000$10,000
X-25 Other liabilitiesStart of year $40,544$22,966
X-26 Total liabilitiesStart of year $62,153$46,813
X-27 Net assets without donor restrictionsStart of year $272,174$232,405
X-28 Net assets with donor restrictionsStart of year $13,000$0
X-32 Total net assets or fund balancesStart of year $285,174$232,405
X-33 Total liabilities and net assetsStart of year $347,327$279,218
Part XI · Reconciliation of net assets $232,405 net assets at year end
XI-1 Total revenue$298,559
XI-2 Total expenses$351,328
XI-3 Revenue less expenses−$52,769
XI-4 Net assets at start of year$285,174
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$232,405

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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