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Lakeside Legacy Foundation FY2023 filing

Tax-deductible

Crystal Lake, IL501(c)(3)Education EIN 33-1006907Revenue $1.2M in FY2023

On file with the IRSlakesidelegacy.org401 Country Club Rd, 60014-5605 · Crystal Lake, ILTax-exempt since Oct 2002Publicly supported charity — 170(b)(1)(A)(vi)

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Foster an innovative arts, education and community destination to enrich quality of life.

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
5 of 5
filings with a surplus
Average surplus $174K a year · 17% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 4.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $175K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$612K
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
+12% vs prior year
Spent
$1.1M
To programs
70%
Net assets
$2.5M
By yearFY2020–FY2024
Revenue
$1.2M
FY2023▲ +12%
Tap a bar for its year
Revenue by fiscal year
FY2020$899K
FY2021$938K
FY2022$1.0M
FY2023$1.2M
FY2024$1.2M
Expenses
$1.1M
FY2023▲ +36%
Tap a bar for its year
Expenses by fiscal year
FY2020$593K
FY2021$658K
FY2022$832K
FY2023$1.1M
FY2024$1.1M
Net assets
$2.5M
FY2023▲ +0.8%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.0M
FY2021$2.3M
FY2022$2.5M
FY2023$2.5M
FY2024$2.6M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2002.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $795K Management & general 28% · $316K Fundraising 2% · $21K

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

16 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Bob Fleck
Member
$0Pt VII · Sec A
Jeff Fox
Member
$0Pt VII · Sec A
Jay Lecoque
President
$0Pt VII · Sec A
Martin Moister
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Nancy Merkling’s $30K as Co-Executive Director is at the 4th percentile of top reported officer pay among 3395 $1–10M education 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.

See Lakeside Legacy Foundation 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

Enriching lives by fostering arts, education, and community.

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Provided by the organization

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4 programs · $1.5M · in their own filed words · FY2023
01

The entity seeks to preserve and protect the dole mansion and lakeside arts park for the community to experience . LLF has achieved and continued to do so by offering artists studios and event rental space for them to educate or create their own inspiring works.

$616Kprogram expense
02

The entity seeks to preserve and protect the dole mansion and lakeside arts park for the community to experience . LLF has achieved and continued to do so by offering artists studios and event rental space for them to educate or create their own inspiring works.

$616Kprogram expense
03

Farmers market at the dole is an indoor and outdoor market experience that began in 2021. The market supports the preservation efforts of the historic property while supporting local small businesses, musicians and other artists. It also features children's attractions and live music.

$134Kprogram expense
04

Farmers market at the dole is an indoor and outdoor market experience that began in 2021. The market supports the preservation efforts of the historic property while supporting local small businesses, musicians and other artists. It also features children's attractions and live music.

$134Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Lecoque Family FoundationFY2024$175K
Total grants receivedfrom 1 funder$175K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.2M
Ln 12
Other incomeLn 4–11$474K
Gifts and grantsLn 1h$356K
Fees for servicesLn 2g$307K
Money outPt IX
$1.1M
Ln 25
Programscol B$795K
Managementcol C$316K
Fundraisingcol D$21K
Owns and owesPt X
$2.5M
net assets · Ln 32
Cash and savingsLn 1–2$438K
Total assetsLn 16$3.1M
LiabilitiesLn 26$612K
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$356K
Fees for servicesLn 2g$307K
Investment incomeLn 3$16K
Other incomeLn 4–11$474K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$438K
Total assetsLn 16$3.1M
LiabilitiesLn 26$612K
Net assetsLn 32$2.5M
OperationsPt I, VI
EmployeesI 511
VolunteersI 620
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.2M$1.1M$61K$2.6M 990 PDF
FY2023 Viewing $1.2M$1.1M$20K$2.5M 990 PDF
FY2022 $1.0M$832K$199K$2.5M 990 PDF
FY2021 $938K$658K$281K$2.3M 990 PDF
FY2020 $899K$593K$306K$2.0M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons A · Public support O · Explanations
See the full FY2023 990 (1 part)
Part VI · Governance 8 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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