Progress Lakeshore Inc
Progress Lakeshore Inc. experiences recent deficit spending after a decade of stable, modest revenue.
EIN: 200419691 · Manitowoc, WI · NTEE: S30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $320K |
| Total Expenses | $382K |
| Program Spending | 75% |
| Net Assets | $285K |
| Transparency Score | 70/100 |
Is Progress Lakeshore Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Progress Lakeshore Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Progress Lakeshore Inc
Progress Lakeshore Inc (EIN: 200419691) is a nonprofit organization based in Manitowoc, WI, classified under NTEE code S30. The organization reported total revenue of $320K and total assets of $279K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Progress Lakeshore Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Progress Lakeshore Inc is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $355K |
| Total Expenses | $382K |
| Surplus / Deficit | $-26,938 |
| Total Assets | $347K |
| Total Liabilities | $62K |
| Net Assets | $285K |
| Operating Margin | -7.6% |
| Debt-to-Asset Ratio | 17.9% |
| Months of Reserves | 10.9 months |
Financial Health Grade: B
In 2023, Progress Lakeshore Inc reported a deficit of $27K with expenses exceeding revenue, holds 10.9 months of operating reserves (strong position), has a debt-to-asset ratio of 17.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Progress Lakeshore Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +39.4% | -20.5% | -9.0% |
| 2022 | -2.3% | +104.6% | -30.3% |
| 2021 | +3.8% | -4.1% | +7.7% |
| 2020 | -12.3% | -5.2% | -0.2% |
| 2019 | +5.0% | -6.6% | +6.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2005 |
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 Progress Lakeshore Inc with a Mission Score of 70 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Progress Lakeshore Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $27K, with expenses exceeding revenue.
- Debt-to-asset ratio: 17.9%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's officers are either unpaid volunteers or compensated through other means 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 Progress Lakeshore Inc's IRS 990 filings:
- Expenses exceeded revenue in 2022 ($480,708 vs $254,689) and 2023 ($382,020 vs $355,082), indicating deficit spending.
- Significant decline in assets from $547,604 in 2021 to $347,327 in 2023, potentially due to sustained deficit spending.
- Increase in liabilities from under $15,000 in most years to $69,402 in 2022 and $62,153 in 2023, coinciding with higher expenses.
Strengths
The following positive indicators were identified for Progress Lakeshore Inc:
- Consistent reporting of 0% officer compensation across all filings, suggesting efficient use of funds at the executive level.
- Long operational history with 13 years of IRS 990 filings, indicating stability and transparency in reporting.
- Historically low liabilities for most of the period, demonstrating sound financial management in earlier years.
Frequently Asked Questions about Progress Lakeshore Inc
Is Progress Lakeshore Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Progress Lakeshore Inc (EIN: 200419691) some concerns. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
How does Progress Lakeshore Inc spend its money?
Progress Lakeshore Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Progress Lakeshore Inc tax-deductible?
Progress Lakeshore Inc is registered as a tax-exempt nonprofit (EIN: 200419691). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Progress Lakeshore Inc's spending goes to programs?
Progress Lakeshore Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Progress Lakeshore Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), Progress Lakeshore Inc is above average for NTEE category S30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Progress Lakeshore Inc located?
Progress Lakeshore Inc is headquartered in Manitowoc, Wisconsin and files with the IRS under EIN 200419691. It is classified under NTEE code S30.
How many years of IRS 990 filings does Progress Lakeshore Inc have?
Progress Lakeshore 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 $320K in total revenue.
What caused the significant increase in expenses in 2022 ($480,708) and 2023 ($382,020) compared to previous years?
The provided data does not specify the reasons for the increased expenses. A review of the detailed IRS 990 forms for those years would be necessary to understand the nature of these expenditures and whether they were program-related or administrative.
How does Progress Lakeshore Inc. plan to address the recent trend of expenses exceeding revenue?
The summary data does not include strategic financial plans. The organization would need to articulate its strategy for revenue generation or expense management to ensure long-term sustainability, especially given the asset decline from $547,604 in 2021 to $347,327 in 2023.
What is the detailed breakdown of program, administrative, and fundraising expenses?
The provided summary data does not offer a detailed breakdown of expenses. To understand spending efficiency, one would need to consult the full IRS 990 forms, specifically Part IX, Statement of Functional Expenses.
Filing History
IRS 990 filing history for Progress Lakeshore Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Progress Lakeshore Inc's revenue has grown by 18.2%, moving from $300K to $355K. Total assets decreased by 46.4% over the same period, from $648K to $347K. Total functional expenses rose by 26.9%, from $301K to $382K. In its most recent filing year (2023), Progress Lakeshore Inc reported a deficit of $27K, with expenses exceeding revenue. The organization holds $62K in liabilities against $347K in assets (debt-to-asset ratio: 17.9%), resulting in net assets of $285K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $355K | $382K | $347K | $62K | — | — |
| 2022 | $255K | $481K | $382K | $69K | — | View 990 |
| 2021 | $261K | $235K | $548K | $9K | — | View 990 |
| 2020 | $251K | $245K | $508K | $5K | — | View 990 |
| 2019 | $286K | $258K | $509K | $14K | — | View 990 |
| 2018 | $273K | $277K | $477K | $10K | — | View 990 |
| 2017 | $243K | $272K | $483K | $12K | — | View 990 |
| 2016 | $244K | $233K | $510K | $10K | — | View 990 |
| 2015 | $278K | $253K | $497K | $6K | — | View 990 |
| 2014 | $317K | $357K | $476K | $9K | — | View 990 |
| 2013 | $281K | $350K | $513K | $6K | — | View 990 |
| 2012 | $257K | $328K | $582K | $6K | — | View 990 |
| 2011 | $300K | $301K | $648K | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $355K, expenses of $382K, and assets of $347K (revenue +39.4% year-over-year).
- 2022: Revenue of $255K, expenses of $481K, and assets of $382K (revenue -2.3% year-over-year).
- 2021: Revenue of $261K, expenses of $235K, and assets of $548K (revenue +3.8% year-over-year).
- 2020: Revenue of $251K, expenses of $245K, and assets of $508K (revenue -12.3% year-over-year).
- 2019: Revenue of $286K, expenses of $258K, and assets of $509K (revenue +5.0% year-over-year).
- 2018: Revenue of $273K, expenses of $277K, and assets of $477K (revenue +12.4% year-over-year).
- 2017: Revenue of $243K, expenses of $272K, and assets of $483K (revenue -0.5% year-over-year).
- 2016: Revenue of $244K, expenses of $233K, and assets of $510K (revenue -12.2% year-over-year).
- 2015: Revenue of $278K, expenses of $253K, and assets of $497K (revenue -12.5% year-over-year).
- 2014: Revenue of $317K, expenses of $357K, and assets of $476K (revenue +12.8% year-over-year).
- 2013: Revenue of $281K, expenses of $350K, and assets of $513K (revenue +9.5% year-over-year).
- 2012: Revenue of $257K, expenses of $328K, and assets of $582K (revenue -14.5% year-over-year).
- 2011: Revenue of $300K, expenses of $301K, and assets of $648K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Progress Lakeshore Inc:
Data Sources and Methodology
This transparency report for Progress Lakeshore 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.