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Lakeside for Children FY2021 filing

Kalamazoo, MIUnknown exempt organization EIN 38-1360532Revenue −$921K in FY2021

On file with the IRSlakesideforchildren.org3921 Oakland Drive · Kalamazoo, MI

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Lakeside for Children provides at-risk youth an opportunity to learn new skills and behaviors in a caring, hope-filled and supportive environment.

Mission: Form 990 Part I, line 1

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
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
1 of 5
filings with a surplus
Average deficit $379K a year · 15% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
87 mo
of spending, in cash
Looks good: 86.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $500
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6K
0.08% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$921K
-107% vs prior year
Spent
$689K
To programs
0%
Net assets
$7.8M
By yearFY2020–FY2024
Revenue
−$921K
FY2021▼ -107%
Tap a bar for its year
Revenue by fiscal year
FY2020$13.7M
FY2021−$921K
FY2022$4K
FY2023$156K
FY2024$19K
Expenses
$689K
FY2021▼ -95%
Tap a bar for its year
Expenses by fiscal year
FY2020$13.7M
FY2021$689K
FY2022$229K
FY2023$152K
FY2024$27K
Net assets
$7.8M
FY2021▼ -15%
Tap a bar for its year
Net assets by fiscal year
FY2020$9.2M
FY2021$7.8M
FY2022$7.6M
FY2023$551K
FY2024$0

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 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 Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Management & general 100% · $689K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Jeff Palmer
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Rick Wordell
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mary Oudsema
Director
$0Pt VII · Sec A
See Lakeside for Children 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

Helps at-risk youth learn skills and behaviors in a supportive environment.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Services given and costs incurred by the management company to provide at- risk youth an on campus opportunity to learn new skills and behaviors in a caring, hope-filled and supportive environment.

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 · funders on record
Grants received · FY2021
Joel L Altman Charitable Foundation INCFY2021$500
Total grants receivedfrom 1 funder$500

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$921K
Ln 12
Gifts and grantsLn 1h$103K
Money outPt IX
$689K
Ln 25
Managementcol C$689K
Owns and owesPt X
$7.8M
net assets · Ln 32
Cash and savingsLn 1–2$5.0M
Total assetsLn 16$7.8M
LiabilitiesLn 26$6K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$103K
Gains on assetsLn 7−$1.4M
Total revenueLn 12−$921K
Assets in detailPt X, end of year
CashLn 1$34K
SavingsLn 2$5.0M
Cash and savings togetherLn 1–2$5.0M
Other assetsLn 15$91K
Total assetsLn 16$7.8M
LiabilitiesLn 26$6K
Net assetsLn 32$7.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$62K$5.0M
Total assetsLn 16$10.5M$7.8M
LiabilitiesLn 26$1.3M$6K
Net assetsLn 32$9.2M$7.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$31K$31K
Accounting feesLn 11c$3K$3K
Other fees for servicesLn 11g$310$310
Advertising and promotionLn 12$79K$79K
OccupancyLn 16$128K$128K
InterestLn 20$61K$61K
Depreciation, depletion and amortizationLn 22$337K$337K
InsuranceLn 23$41K$41K
Other expenses (24a–d)Ln 24$10K$10K
Total functional expensesLn 25$689K$0$689K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $19K$27K−$8K$0 990 PDF
FY2023 $156K$152K$4K$551K 990 PDF
FY2022 $4K$229K−$224K$7.6M 990 PDF
FY2021 Viewing −$921K$689K−$1.6M$7.8M 990 PDF
FY2020 $13.7M$13.7M−$56K$9.2M 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 FY2021 990 (6 parts)
Part I · Summary −$920,976 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $13,676,324$103,181
I-9 Program service revenue$0
I-10 Investment income−$1,400,743
I-11 Other revenuePrior year $478$376,586
I-12 Total revenuePrior year $13,676,802−$920,976
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $13,732,590$688,560
I-18 Total expensesPrior year $13,732,590$688,560
I-19 Revenue less expensesPrior year −$55,788−$1,609,536
Part VI · Governance 10 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue −$920,976 across 5 lines filed
VIII-1f All other contributions, gifts and grants$103,181
VIII-1h Total contributions, gifts and grants$103,181
VIII-7 Net gain or loss on sales of assetsRelated to mission −$1,400,743−$1,400,743
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $376,586$376,586
VIII-12 Total revenueRelated to mission −$1,024,157−$920,976
Part IX · Statement of functional expenses $688,560 across 9 lines filed
IX-11b Legal feesManagement $30,871$30,871
IX-11c Accounting feesManagement $3,000$3,000
IX-11g Other fees for servicesManagement $310$310
IX-12 Advertising and promotionManagement $78,691$78,691
IX-16 OccupancyManagement $127,547$127,547
IX-20 InterestManagement $60,937$60,937
IX-22 Depreciation, depletion and amortizationManagement $336,739$336,739
IX-23 InsuranceManagement $40,739$40,739
IX-24 Other expenses (24a–d)Management $9,726$9,726
IX-25 Total functional expensesPrograms $0 · Management $688,560 · Fundraising $0$688,560
Part X · Balance sheet $7,840,725 assets, 11 lines filed
Asset lines not itemized here account for $2,692,950; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $61,933$33,747
X-2 Savings and temporary cash investments$4,955,435
X-4 Accounts receivableStart of year $380,827$67,233
X-15 Other assetsStart of year $22,422$91,360
X-16 Total assetsStart of year $10,494,769$7,840,725
X-17 Accounts payable and accrued expensesStart of year $279,019$6,102
X-26 Total liabilitiesStart of year $1,280,258$6,102
X-27 Net assets without donor restrictionsStart of year $8,672,491$7,292,603
X-28 Net assets with donor restrictionsStart of year $542,020$542,020
X-32 Total net assets or fund balancesStart of year $9,214,511$7,834,623
X-33 Total liabilities and net assetsStart of year $10,494,769$7,840,725
Part XI · Reconciliation of net assets $7,834,623 net assets at year end
XI-1 Total revenue−$920,976
XI-2 Total expenses$688,560
XI-3 Revenue less expenses−$1,609,536
XI-4 Net assets at start of year$9,214,511
XI-5 Net unrealized gains (losses) on investments$237,109
XI-9 Other changes in net assets−$7,461
XI-10 Net assets at end of year$7,834,623

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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