Lake Vermilion Resort Association
EIN: 411481722 · Cook, MN · NTEE: S41
| Metric | Value |
|---|---|
| Total Revenue | $351K |
| Total Expenses | $411K |
| Net Assets | $195K |
Is Lake Vermilion Resort Association Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Lake Vermilion Resort Association
Lake Vermilion Resort Association (EIN: 411481722) is a nonprofit organization based in Cook, MN, classified under NTEE code S41. The organization reported total revenue of $351K and total assets of $155K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lake Vermilion Resort Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lake Vermilion Resort Association is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 1.8%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $297K |
| Total Expenses | $411K |
| Surplus / Deficit | $-113,269 |
| Total Assets | $197K |
| Total Liabilities | $1K |
| Net Assets | $195K |
| Operating Margin | -38.1% |
| Debt-to-Asset Ratio | 0.7% |
| Months of Reserves | 5.7 months |
Financial Health Grade: B
In 2024, Lake Vermilion Resort Association reported a deficit of $113K with expenses exceeding revenue, holds 5.7 months of operating reserves (adequate), has a debt-to-asset ratio of 0.7% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), Lake Vermilion Resort Association's revenue has grown at a compound annual growth rate (CAGR) of 1.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -8.6% | -18.4% | -36.6% |
| 2023 | +1.9% | +36.5% | -36.4% |
| 2022 | +0.4% | +129.1% | -9.2% |
| 2021 | +5.8% | -7.7% | +43.9% |
| 2020 | +74.1% | -28.9% | +53.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Lake Vermilion Resort Association has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Lake Vermilion Resort Association with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $113K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.7%.
Frequently Asked Questions about Lake Vermilion Resort Association
Is Lake Vermilion Resort Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Lake Vermilion Resort Association (EIN: 411481722) insufficient data. 0 red flags identified, 0 strengths noted.
How does Lake Vermilion Resort Association spend its money?
Detailed spending breakdown data is not yet available for Lake Vermilion Resort Association. Check back for updated IRS 990 analysis.
Are donations to Lake Vermilion Resort Association tax-deductible?
Lake Vermilion Resort Association is registered as a tax-exempt nonprofit (EIN: 411481722). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Lake Vermilion Resort Association located?
Lake Vermilion Resort Association is headquartered in Cook, Minnesota and files with the IRS under EIN 411481722. It is classified under NTEE code S41.
How many years of IRS 990 filings does Lake Vermilion Resort Association have?
Lake Vermilion Resort Association 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 $351K in total revenue.
Filing History
IRS 990 filing history for Lake Vermilion Resort Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Lake Vermilion Resort Association's revenue has grown by 23.3%, moving from $241K to $297K. Total assets increased by 1.6% over the same period, from $194K to $197K. Total functional expenses rose by 87.9%, from $219K to $411K. In its most recent filing year (2024), Lake Vermilion Resort Association reported a deficit of $113K, with expenses exceeding revenue. The organization holds $1K in liabilities against $197K in assets (debt-to-asset ratio: 0.7%), resulting in net assets of $195K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $297K | $411K | $197K | $1K | — | — |
| 2023 | $326K | $503K | $310K | $1K | — | — |
| 2022 | $320K | $369K | $488K | $1K | — | View 990 |
| 2021 | $318K | $161K | $537K | $1K | — | — |
| 2020 | $301K | $174K | $373K | $0 | — | — |
| 2019 | $173K | $245K | $244K | $383 | — | View 990 |
| 2018 | $310K | $202K | $316K | $529 | — | View 990 |
| 2017 | $243K | $224K | $209K | $631 | — | View 990 |
| 2016 | $235K | $210K | $190K | $627 | — | View 990 |
| 2015 | $251K | $199K | $164K | $2K | — | View 990 |
| 2014 | $154K | $220K | $112K | $2K | — | View 990 |
| 2013 | $196K | $213K | $177K | $1K | — | View 990 |
| 2012 | $241K | $219K | $194K | $1K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $297K, expenses of $411K, and assets of $197K (revenue -8.6% year-over-year).
- 2023: Revenue of $326K, expenses of $503K, and assets of $310K (revenue +1.9% year-over-year).
- 2022: Revenue of $320K, expenses of $369K, and assets of $488K (revenue +0.4% year-over-year).
- 2021: Revenue of $318K, expenses of $161K, and assets of $537K (revenue +5.8% year-over-year).
- 2020: Revenue of $301K, expenses of $174K, and assets of $373K (revenue +74.1% year-over-year).
- 2019: Revenue of $173K, expenses of $245K, and assets of $244K (revenue -44.2% year-over-year).
- 2018: Revenue of $310K, expenses of $202K, and assets of $316K (revenue +27.6% year-over-year).
- 2017: Revenue of $243K, expenses of $224K, and assets of $209K (revenue +3.1% year-over-year).
- 2016: Revenue of $235K, expenses of $210K, and assets of $190K (revenue -6.1% year-over-year).
- 2015: Revenue of $251K, expenses of $199K, and assets of $164K (revenue +62.7% year-over-year).
- 2014: Revenue of $154K, expenses of $220K, and assets of $112K (revenue -21.5% year-over-year).
- 2013: Revenue of $196K, expenses of $213K, and assets of $177K (revenue -18.6% year-over-year).
- 2012: Revenue of $241K, expenses of $219K, and assets of $194K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lake Vermilion Resort Association:
Data Sources and Methodology
This transparency report for Lake Vermilion Resort Association 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.