Tofte Lake Center
Tofte Lake Center shows long-term asset growth despite recent operating deficit and no executive compensation.
EIN: 134359561 · Ely, MN · NTEE: A20 · Updated: 2026-03-28
Source Check Matrix
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Identity resolved verified
Tofte Lake Center is mapped to EIN 134359561.
IRS BMF exempt record needs review
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13 stored filing years available.
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13 stored filing years available.
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13 stored filing years plus ProPublica source
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80% program spend, health grade B
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| Metric | Value |
|---|---|
| Total Revenue | $324K |
| Total Expenses | $355K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $200,000 |
| Net Assets | $341K |
| Transparency Score | 85/100 |
Search Intent Cockpit
Tofte Lake Center Form 990, Revenue, CEO Pay, and IRS Filing Signals
Tofte Lake Center is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Tofte Lake Center in one place.
Form 990 Filing Summary
13 filing years are available, with latest revenue of $270K and expenses of $355K.
Revenue and Expenses
Tofte Lake Center reported $270K in revenue and $355K in expenses, a deficit of $85K.
Executive Compensation
Top officer compensation appears as $200,000 in the stored analysis, with context against revenue and expenses below.
Charity Score and Red Flags
85/100 mission score, 1 red flag, and 5 strengths are shown from structured and AI review.
Is Tofte Lake Center Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $284K (80%) |
Across stored filings, Tofte Lake Center shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
Decision Cockpit
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| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 1 red flag identified |
| Mission spend | 80% to programs | Excellent |
| Financial durability | Grade B | 13 stored filing years |
| Peer context | Compare with North American Lake Management Society | Minnesota and Arts & Culture context |
Trust Check
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Tofte Lake Center directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Tofte Lake Center
Tofte Lake Center (EIN: 134359561) is a nonprofit organization based in Ely, MN, classified under NTEE code A20. The organization reported total revenue of $324K and total assets of $343K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Tofte Lake Center's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Tofte Lake Center is a small nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $270K |
| Total Expenses | $355K |
| Surplus / Deficit | $-84,959 |
| Total Assets | $345K |
| Total Liabilities | $4K |
| Net Assets | $341K |
| Operating Margin | -31.4% |
| Debt-to-Asset Ratio | 1.1% |
| Months of Reserves | 11.6 months |
Financial Health Grade: B
In 2023, Tofte Lake Center reported a deficit of $85K with expenses exceeding revenue, holds 11.6 months of operating reserves (strong position), has a debt-to-asset ratio of 1.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Tofte Lake Center's revenue has grown at a compound annual growth rate (CAGR) of 11.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -14.5% | +45.4% | -19.6% |
| 2022 | +54.3% | +22.9% | +21.2% |
| 2021 | +20.7% | +41.2% | +1.7% |
| 2020 | -5.9% | -7.2% | +9.3% |
| 2019 | +20.5% | +18.3% | +10.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
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 Tofte Lake Center with a Mission Score of 85 out of 100 (Excellent). 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: 80%
- fundraising: 5%
According to IRS 990 filings, Tofte Lake Center allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $85K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.1%.
Executive Compensation Analysis
Tofte Lake Center consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers, which is highly unusual for an organization with annual revenues exceeding $200,000 and suggests a volunteer-led executive structure.
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 Tofte Lake Center's IRS 990 filings:
- Operating deficit in the latest filing period (202312), with expenses ($355,453) exceeding revenue ($270,494).
Strengths
The following positive indicators were identified for Tofte Lake Center:
- Consistent reporting of 0% officer compensation, indicating volunteer leadership and efficient resource allocation.
- Strong long-term asset growth, increasing from $238,801 in 2014 to $344,594 in 2023.
- Very low liabilities across all filing periods, demonstrating strong financial management and minimal debt.
- Significant revenue growth over the past decade, indicating increasing support and program reach.
- Excellent transparency with 13 consistent IRS 990 filings.
Frequently Asked Questions about Tofte Lake Center
Is Tofte Lake Center a legitimate charity?
Tofte Lake Center (EIN: 134359561) is a registered tax-exempt nonprofit based in Minnesota. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $324K. 1 red flag identified. 5 strengths noted. Financial health grade: B.
How does Tofte Lake Center spend its money?
Tofte Lake Center directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Tofte Lake Center tax-deductible?
Tofte Lake Center is registered as a tax-exempt nonprofit (EIN: 134359561). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Tofte Lake Center CEO make?
Tofte Lake Center's highest-compensated officer earns $200,000 annually. The organization reported $324K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Tofte Lake Center's spending goes to programs?
Tofte Lake Center directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Tofte Lake Center compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Tofte Lake Center is above average for NTEE category A20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Tofte Lake Center located?
Tofte Lake Center is headquartered in Ely, Minnesota and files with the IRS under EIN 134359561. It is classified under NTEE code A20.
How many years of IRS 990 filings does Tofte Lake Center have?
Tofte Lake Center 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 $324K in total revenue.
Is Tofte Lake Center financially stable?
Yes, despite a deficit in 2023 ($270,494 revenue vs. $355,453 expenses), the organization has shown consistent asset growth from $238,801 in 2014 to $344,594 in 2023, and maintains very low liabilities ($3,785 in 2023), indicating long-term financial stability.
How does Tofte Lake Center manage executive compensation?
Tofte Lake Center reports 0% officer compensation in all available filings, meaning no salaries are paid to its officers, which is a strong indicator of volunteer leadership and efficient use of funds.
What is the trend in Tofte Lake Center's revenue?
Tofte Lake Center has shown significant revenue growth over the past decade, increasing from $93,916 in 2014 to $270,494 in 2023, with a peak of $316,460 in 2022.
Are Tofte Lake Center's liabilities a concern?
No, Tofte Lake Center consistently maintains very low liabilities, reported at $3,785 in 2023, which is a positive sign of financial health and minimal debt.
Filing History
IRS 990 filing history for Tofte Lake Center showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Tofte Lake Center's revenue has grown by 250.1%, moving from $77K to $270K. Total assets increased by 197.8% over the same period, from $116K to $345K. Total functional expenses rose by 584.9%, from $52K to $355K. In its most recent filing year (2023), Tofte Lake Center reported a deficit of $85K, with expenses exceeding revenue. The organization holds $4K in liabilities against $345K in assets (debt-to-asset ratio: 1.1%), resulting in net assets of $341K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $270K | $355K | $345K | $4K | — | — |
| 2022 | $316K | $244K | $429K | $3K | — | View 990 |
| 2021 | $205K | $199K | $354K | $0 | — | View 990 |
| 2020 | $170K | $141K | $348K | $400 | — | — |
| 2019 | $181K | $152K | $318K | $0 | — | View 990 |
| 2018 | $150K | $128K | $289K | $0 | — | View 990 |
| 2017 | $134K | $130K | $268K | $0 | — | View 990 |
| 2016 | $118K | $117K | $271K | $7K | — | View 990 |
| 2015 | $122K | $97K | $266K | $2K | — | View 990 |
| 2014 | $94K | $77K | $239K | $725 | — | View 990 |
| 2013 | $99K | $79K | $223K | $2K | — | View 990 |
| 2012 | $133K | $46K | $203K | $1K | — | View 990 |
| 2011 | $77K | $52K | $116K | $1K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $270K, expenses of $355K, and assets of $345K (revenue -14.5% year-over-year).
- 2022: Revenue of $316K, expenses of $244K, and assets of $429K (revenue +54.3% year-over-year).
- 2021: Revenue of $205K, expenses of $199K, and assets of $354K (revenue +20.7% year-over-year).
- 2020: Revenue of $170K, expenses of $141K, and assets of $348K (revenue -5.9% year-over-year).
- 2019: Revenue of $181K, expenses of $152K, and assets of $318K (revenue +20.5% year-over-year).
- 2018: Revenue of $150K, expenses of $128K, and assets of $289K (revenue +12.1% year-over-year).
- 2017: Revenue of $134K, expenses of $130K, and assets of $268K (revenue +13.8% year-over-year).
- 2016: Revenue of $118K, expenses of $117K, and assets of $271K (revenue -3.9% year-over-year).
- 2015: Revenue of $122K, expenses of $97K, and assets of $266K (revenue +30.3% year-over-year).
- 2014: Revenue of $94K, expenses of $77K, and assets of $239K (revenue -5.0% year-over-year).
- 2013: Revenue of $99K, expenses of $79K, and assets of $223K (revenue -25.6% year-over-year).
- 2012: Revenue of $133K, expenses of $46K, and assets of $203K (revenue +72.1% year-over-year).
- 2011: Revenue of $77K, expenses of $52K, and assets of $116K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Tofte Lake Center:
Data Sources and Methodology
This transparency report for Tofte Lake Center 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.