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Portage Lake Multi-Educational FY2020 filing

Houghton, MIUnknown exempt organization EIN 23-7310853Revenue $214K in FY2020

On file with the IRShoughtoncountyarena.com17320 Penrose Bluff · Houghton, MI

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To operate and maintain a public recreation facility.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 4
filings with a surplus
Average deficit $162K a year · 74% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$92K
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$214K
Spent
$220K
To programs
100%
Net assets
$641K
By yearFY2020–FY2023
Revenue
$214K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$214K
FY2021$155K
FY2022$230K
FY2023$278K
Expenses
$220K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$220K
FY2021$189K
FY2022$246K
FY2023$870K
Net assets
$641K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$641K
FY2021$607K
FY2022$591K
FY2023$0

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $218K Management & general 0% · $1K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
William Lepisto
Vice Preside
$0Pt VII · Sec A
Ryan Markham
Treasurer
$0Pt VII · Sec A
Eric Nielson
Secretary
$0Pt VII · Sec A
David Wiitanen
Board Member
$0Pt VII · Sec A
Douglas Hembroff
Board Member
$0Pt VII · Sec A
Al Wakeham
Board Member
$0Pt VII · Sec A
David Jukuri
Board Member
$0Pt VII · Sec A
See Portage Lake Multi-Educational 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 15aNo

Programs and updates

Operates and maintains a public recreation facility for community use.

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Provided by the organization

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1 program · $218K · in their own filed words · FY2019
01

Operate & maintain an ice arena that serves an estimated 3,000 plus hockey players, figure skaters & recreational skaters in the winter and is used for the county fair, weddings, reunions & other recreational, educational and social purposes in the off-season.

$218Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$214K
Ln 12
Fees for servicesLn 2g$214K
Gifts and grantsLn 1h$60
Money outPt IX
$220K
Ln 25
Programscol B$218K
Managementcol C$1K
Owns and owesPt X
$641K
net assets · Ln 32
Cash and savingsLn 1–2$142K
Total assetsLn 16$733K
LiabilitiesLn 26$92K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$60
Fees for servicesLn 2g$214K
Total revenueLn 12$214K
Assets in detailPt X, end of year
CashLn 1$142K
Cash and savings togetherLn 1–2$142K
Land, buildings, equipmentLn 10c$528K
Total assetsLn 16$733K
LiabilitiesLn 26$92K
Net assetsLn 32$641K
OperationsPt I, VI
EmployeesI 57
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$131K$142K
Land, buildings, equipmentLn 10c$560K$528K
Total assetsLn 16$794K$733K
LiabilitiesLn 26$148K$92K
Net assetsLn 32$647K$641K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$51K$51K
Payroll taxesLn 10$8K$8K
Accounting feesLn 11c$1K$1K
Office expensesLn 13$1K$1K
OccupancyLn 16$98K$98K
InterestLn 20$6K$6K
Depreciation, depletion and amortizationLn 22$32K$32K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$15K$15K
Total functional expensesLn 25$220K$218K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $278K$870K−$591K$0 990 PDF
FY2022 $230K$246K−$16K$591K 990 PDF
FY2021 $155K$189K−$34K$607K 990 PDF
FY2020 Viewing $214K$220K−$5K$641K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $214,233 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $322$60
I-9 Program service revenuePrior year $224,170$214,173
I-10 Investment incomePrior year −$68,783$0
I-11 Other revenue$0
I-12 Total revenuePrior year $155,709$214,233
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $68,627$58,449
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $141,215$161,080
I-18 Total expensesPrior year $209,842$219,529
I-19 Revenue less expensesPrior year −$54,133−$5,296
Part VI · Governance 14 of 14 board members independent, 4 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $214,233 across 4 lines filed
VIII-1f All other contributions, gifts and grants$60
VIII-1h Total contributions, gifts and grants$60
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $214,173$214,173
VIII-12 Total revenueRelated to mission $214,173$214,233
Part IX · Statement of functional expenses $219,529 across 9 lines filed
IX-7 Other salaries and wagesPrograms $50,734$50,734
IX-10 Payroll taxesPrograms $7,715$7,715
IX-11c Accounting feesManagement $1,038$1,038
IX-13 Office expensesPrograms $1,112$1,112
IX-16 OccupancyPrograms $98,313$98,313
IX-20 InterestPrograms $6,096$6,096
IX-22 Depreciation, depletion and amortizationPrograms $32,232$32,232
IX-23 InsurancePrograms $7,717$7,717
IX-24 Other expenses (24a–d)Programs $14,572$14,572
IX-25 Total functional expensesPrograms $218,491 · Management $1,038 · Fundraising $0$219,529
Part X · Balance sheet $732,722 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $130,533$142,267
X-3 Pledges and grants receivableStart of year $102,750$59,300
X-4 Accounts receivableStart of year $950$3,510
X-10c Land, buildings and equipment, netStart of year $559,876$527,645
X-16 Total assetsStart of year $794,275$732,722
X-17 Accounts payable and accrued expensesStart of year $2,819$3,921
X-26 Total liabilitiesStart of year $147,766$91,509
X-27 Net assets without donor restrictionsStart of year $646,509$641,213
X-32 Total net assets or fund balancesStart of year $646,509$641,213
X-33 Total liabilities and net assetsStart of year $794,275$732,722
Part XI · Reconciliation of net assets $641,213 net assets at year end
XI-1 Total revenue$214,233
XI-2 Total expenses$219,529
XI-3 Revenue less expenses−$5,296
XI-4 Net assets at start of year$646,509
XI-10 Net assets at end of year$641,213

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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