Lanse Creuse High School Band Boosters

“Initial draft of Form 990 reviewed with Board President and Board Treasurer on August 28, 2025. Board President and Treasurer provided feedback. Form 990 was updated based on feedback provided. Follow-up meeting/correspondence with Board President and Treasurer to confirm updates were correct. Form 990 emailed to Board on September3, 2025. All board members had an opportunity to review and provided feedback. Filing completed upon receiving confirmation from Board Treasurer that all feedback had been received.”

“Disclosure of governing docs, policies, and financial statements are available upon request”

“= $71828”

“The L'anse Creuse Band Boosters is a volunteer organization. No board members are compensated for their services. We are communicating a transparent update on our financial health. During the 2024 fiscal year, our organization experienced a significant decrease in net assets. This was a direct result of lapses in our financial oversight and a period of leadership transition on our board as the board president retired, and several board members including the treasurer resigned. This was a direct result of lapses in our financial oversight and a period of leadership transition on our Executive Board as several board positions remained vacant and the treasurer resigned mid-year. These departures led to a breakdown in our financial monitoring processes. Key tasks, such as regular financial statement reviews and budget-to-actual comparisons, were not performed consistently. As a result, we were slow to identify negative trends, such as increasing expenses and declining revenue, which led to a substantial operating deficit. The simultaneous departure of our two top financial leaders created a void in our governance structure. This slowed decision-making and created significant organizational instability during a critical period. In 2025, we implemented new internal financial controls. This includes segregating key financial duties, establishing a dual authorization policy for all major expenditures, and creating a new financial dashboard for the board to review monthly. We have successfully recruited a new Treasurer with deep experience in nonprofit financial management, and a new Board President who is committed to a culture of accountability and transparency All board members will now receive mandatory training on financial literacy to ensure a shared understanding of their fiduciary responsibilities. To prevent future disruptions, we are working to create a formal succession plan to ensure a smooth transition of duties in the event of future leadership changes. While we faced these internal challenges, our commitment to our mission has never wavered. The changes we have implemented will provide a stronger, more stable financial foundation, allowing us to increase our impact and better serve our community for years to come.”