Lake Gogebic Trails Inc
Lake Gogebic Trails Inc. shows fluctuating finances with recent asset decline, but maintains 0% officer compensation.
EIN: 200165585 · Bergland, MI · NTEE: N68 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $632K |
| Total Expenses | $379K |
| Program Spending | 85% |
| Net Assets | $266K |
| Transparency Score | 78/100 |
Is Lake Gogebic Trails Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lake Gogebic Trails Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lake Gogebic Trails Inc
Lake Gogebic Trails Inc (EIN: 200165585) is a nonprofit organization based in Bergland, MI, classified under NTEE code N68. The organization reported total revenue of $632K and total assets of $656K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lake Gogebic Trails Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lake Gogebic Trails Inc is a small nonprofit that has been operating for 17 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $218K |
| Total Expenses | $379K |
| Surplus / Deficit | $-161,431 |
| Total Assets | $288K |
| Total Liabilities | $21K |
| Net Assets | $266K |
| Operating Margin | -74.1% |
| Debt-to-Asset Ratio | 7.4% |
| Months of Reserves | 9.1 months |
Financial Health Grade: B
In 2023, Lake Gogebic Trails Inc reported a deficit of $161K with expenses exceeding revenue, holds 9.1 months of operating reserves (strong position), has a debt-to-asset ratio of 7.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Lake Gogebic Trails Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -10.9% | +6.1% | -36.7% |
| 2022 | -34.2% | +11.9% | -24.1% |
| 2021 | -24.4% | +5.3% | +9.0% |
| 2020 | +124.6% | +47.6% | +49.8% |
| 2019 | +1.5% | -30.8% | +7.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Lake Gogebic Trails Inc with a Mission Score of 78 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Lake Gogebic Trails Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $161K, with expenses exceeding revenue.
- Debt-to-asset ratio: 7.4%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated in a manner not classified as officer compensation, which is a positive sign for resource allocation relative to its size.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Lake Gogebic Trails Inc's IRS 990 filings:
- Expenses consistently exceeding revenue in recent years (2022 and 2023), leading to asset depletion.
- Significant decline in assets from $598,617 in 2021 to $287,569 in 2023.
Strengths
The following positive indicators were identified for Lake Gogebic Trails Inc:
- Consistent 0% officer compensation across all reported periods, indicating efficient use of funds for leadership.
- Long history of IRS 990 filings (13 filings), demonstrating transparency.
- Maintains substantial assets relative to its annual revenue, even after recent declines, providing some financial cushion.
Frequently Asked Questions about Lake Gogebic Trails Inc
Is Lake Gogebic Trails Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lake Gogebic Trails Inc (EIN: 200165585) some concerns. Mission Score: 78/100. 2 red flags identified, 3 strengths noted.
How does Lake Gogebic Trails Inc spend its money?
Lake Gogebic Trails Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lake Gogebic Trails Inc tax-deductible?
Lake Gogebic Trails Inc is registered as a tax-exempt nonprofit (EIN: 200165585). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Lake Gogebic Trails Inc's spending goes to programs?
Lake Gogebic Trails Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Lake Gogebic Trails Inc compare to similar nonprofits?
With a transparency score of 78/100 (Good), Lake Gogebic Trails Inc is above average for NTEE category N68 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Lake Gogebic Trails Inc located?
Lake Gogebic Trails Inc is headquartered in Bergland, Michigan and files with the IRS under EIN 200165585. It is classified under NTEE code N68.
How many years of IRS 990 filings does Lake Gogebic Trails Inc have?
Lake Gogebic Trails Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $632K in total revenue.
What caused the significant decrease in assets from $598,617 in 2021 to $287,569 in 2023?
The decrease in assets is primarily due to expenses exceeding revenues in 2022 ($357,505 expenses vs. $244,451 revenue) and 2023 ($379,299 expenses vs. $217,868 revenue). This suggests the organization may have drawn down reserves or invested heavily in projects during these periods.
How does Lake Gogebic Trails Inc. sustain operations with 0% officer compensation?
The consistent 0% officer compensation suggests that the organization likely relies on volunteer leadership or that any compensation for key personnel is categorized differently within their financial statements, such as program staff salaries rather than officer compensation.
What are the specific program activities that account for the majority of expenses?
Based on the NTEE code N68 (Recreation & Sports) and the organization's name, it is highly probable that the majority of expenses are directed towards trail maintenance, development, grooming, and related infrastructure for recreational purposes.
Filing History
IRS 990 filing history for Lake Gogebic Trails Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Lake Gogebic Trails Inc's revenue has grown by 104.6%, moving from $106K to $218K. Total assets increased by 3.9% over the same period, from $277K to $288K. Total functional expenses rose by 99.2%, from $190K to $379K. In its most recent filing year (2023), Lake Gogebic Trails Inc reported a deficit of $161K, with expenses exceeding revenue. The organization holds $21K in liabilities against $288K in assets (debt-to-asset ratio: 7.4%), resulting in net assets of $266K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $218K | $379K | $288K | $21K | — | — |
| 2022 | $244K | $358K | $454K | $26K | — | — |
| 2021 | $372K | $319K | $599K | $58K | — | View 990 |
| 2020 | $491K | $303K | $549K | $60K | — | — |
| 2019 | $219K | $206K | $367K | $66K | — | View 990 |
| 2018 | $216K | $297K | $342K | $54K | — | View 990 |
| 2017 | $83K | $223K | $370K | $1K | — | View 990 |
| 2016 | $337K | $179K | $511K | $2K | — | View 990 |
| 2015 | $143K | $220K | $352K | $1K | — | View 990 |
| 2014 | $297K | $280K | $430K | $3K | — | View 990 |
| 2013 | $365K | $180K | $414K | $3K | — | View 990 |
| 2012 | $145K | $195K | $227K | $2K | — | View 990 |
| 2011 | $106K | $190K | $277K | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $218K, expenses of $379K, and assets of $288K (revenue -10.9% year-over-year).
- 2022: Revenue of $244K, expenses of $358K, and assets of $454K (revenue -34.2% year-over-year).
- 2021: Revenue of $372K, expenses of $319K, and assets of $599K (revenue -24.4% year-over-year).
- 2020: Revenue of $491K, expenses of $303K, and assets of $549K (revenue +124.6% year-over-year).
- 2019: Revenue of $219K, expenses of $206K, and assets of $367K (revenue +1.5% year-over-year).
- 2018: Revenue of $216K, expenses of $297K, and assets of $342K (revenue +160.9% year-over-year).
- 2017: Revenue of $83K, expenses of $223K, and assets of $370K (revenue -75.5% year-over-year).
- 2016: Revenue of $337K, expenses of $179K, and assets of $511K (revenue +135.5% year-over-year).
- 2015: Revenue of $143K, expenses of $220K, and assets of $352K (revenue -51.7% year-over-year).
- 2014: Revenue of $297K, expenses of $280K, and assets of $430K (revenue -18.8% year-over-year).
- 2013: Revenue of $365K, expenses of $180K, and assets of $414K (revenue +151.4% year-over-year).
- 2012: Revenue of $145K, expenses of $195K, and assets of $227K (revenue +36.5% year-over-year).
- 2011: Revenue of $106K, expenses of $190K, and assets of $277K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lake Gogebic Trails Inc:
Data Sources and Methodology
This transparency report for Lake Gogebic Trails Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.