Civic Intelligence

Great Lakes Future Inc

990 • Fiscal year 2015 • EIN 39-1830616

Jan 01, 2015 to Dec 31, 2015 • Filed on May 10, 2016

Organization ProfileN/A
500 N Harbor DriveMilwaukee, WI 53202

(414) 765-8602

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

74th percentile

0.56x

Higher debt load relative to assets than 74% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

96th percentile

8.91x

Higher debt load relative to revenue than 96% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

93rd percentile

57%

Higher net margin than 93% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

49th percentile

1.0%

Faster asset growth than 49% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

97th percentile

164%

Faster revenue growth than 97% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$15,800,224

Up $149,371 (+1.0%) from 2014

Net Assets

Up

$6,982,063

Up $564,307 (+8.8%) from 2014

Liabilities

Down

$8,818,161

Down $414,936 (-4.5%) from 2014

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin93rd percentile

Revenue

Up

$989,428

Up $614,989 (+164%) from 2014

Expenses

Up

$425,121

Up $42,726 (+11%) from 2014

Net Income

Up

$564,307

Up $572,263 (+7193%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2010: $3,159,395Liabilities 2010: $3,154,200Net Assets 2010: $5,1952010Assets 2011: $10,883,394Liabilities 2011: $4,440,640Net Assets 2011: $6,442,7542011Assets 2012: $12,879,676Liabilities 2012: $6,432,140Net Assets 2012: $6,447,5362012Assets 2013: $14,300,017Liabilities 2013: $7,874,305Net Assets 2013: $6,425,7122013Assets 2014: $15,650,853Liabilities 2014: $9,233,097Net Assets 2014: $6,417,7562014Assets 2015: $15,800,224Liabilities 2015: $8,818,161Net Assets 2015: $6,982,0632015Assets 2016: $17,639,284Liabilities 2016: $9,158,786Net Assets 2016: $8,480,4982016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2015

Assets$15,800,224
Liabilities$8,818,161
Net Assets$6,982,063
Open 2015 Filing

Operations Trend

Revenue Growth97th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $5,5922010Expenses 2011: $130,3762011Expenses 2012: $185,9692012Revenue 2013: $281,072Expenses 2013: $302,896Net Income 2013: -$21,8242013Revenue 2014: $374,439Expenses 2014: $382,395Net Income 2014: -$7,9562014Revenue 2015: $989,428Expenses 2015: $425,121Net Income 2015: $564,3072015Revenue 2016: $496,351Expenses 2016: $424,596Net Income 2016: $71,7552016Revenue 2017: $163,563Expenses 2017: $245,065Net Income 2017: -$81,5022017

Highlighted filing

2015

Revenue$989,428
Expenses$425,121
Net Income$564,307
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 10, 2016
Return Version
2015v2.1
Gross Receipts
$989,428
Mission and Program Overview

Mission

To support the charitable mission of

To support the charitable mission of Discovery World, Ltd. ("DW"). DW is an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986 and is a public charity. GLF will act as a fundraising entity for DW.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$1,700,483$1,700,483→ $0
Savings and Temporary Cash Investments$234,936--
Intangible Assets$23,245$14,247▼ $8,998
Cash and Non-Interest-Bearing Accounts$2,522$827▼ $1,695
Total Assets$15,650,853$15,800,224▲ $149,371
Other Assets Total$13,689,667$14,084,667▲ $395,000
Liabilities
Accounts Payable and Accrued Expenses$8,423,161$8,818,161▲ $395,000
Unsecured Notes Loans Payable$575,000--
Escrow Account Liability$234,936--
Total Liabilities$9,233,097$8,818,161▼ $414,936
Net Assets / Fund Balance
Unrestricted Net Assets$6,417,756$6,982,063▲ $564,307
Total Net Assets Fund Balance$6,417,756$6,982,063▲ $564,307
Total Liabilities and Net Assets / Fund Balance$15,650,853$15,800,224▲ $149,371

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$6,442,200--
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Gary GrunauChair
Joel BrennanDirector
Kevin LindseyDirector
Terry McmahonDirector
Varun LaroyiaDirector
Allen LeverettTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$575,000
Program Service Revenue
$0
Investment Income
$414,103
Other Revenue
$325
All Other Contributions
$575,000
Change in Net Assets
$564,307
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$412,000
Other Expenses$13,121
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$412,000--$412,000
Depreciation Depletion$8,998$0$0$8,998
Other Expenses$4,123$0$0$4,123
Total Functional Expenses$425,121$0$0$425,121
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Discovery World LtdMilwaukee, WI501(c)(3)Operations support$412,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Great Lakes Future Inc
EIN
39-1830616
Phone
4147658602
Address
500 N HARBOR DRIVE, MILWAUKEE, WI 53202

Signing Officer

Name
Kate Halfwassen
Title
CFO
Phone
4147658602
Signed
2016-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kate Halfwassen
Formed
1995
Legal Domicile
Wi
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
10

Preparer

Firm
Krause & Associates SC
Address
1214 Bridge Street, Grafton, WI 53024
Preparer
David Krause
Phone
2623779988
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“A copy of the 990 and applicable schedules is provided to the volunteer board of directors for review and approval prior to submission.”

Pt VI, Line 15A

“The organization has no employees and pays no salaries or wages. Board members serve as volunteers and receive no compensation.”

Pt VI, Line 15B

“The organization has no employees and pays no salaries or wages. Board members serve as volunteers and receive no compensation.”

Pt VI, Line 12C

“Conflicts of interest must be disclosed to the board of directors.”

Financial Statement Notes

Pt IV, Line 2B

“Great Lakes Future acted as fiscal agent for an organization that has applied for, and subsequently received, tax exempt status.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Senior Note A NMTC 1
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Great Lakes Future acted as fiscal agent for an organization that has applied for, and subsequently received, tax exempt status.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization has no employees and pays no salaries or wages. Board members serve as volunteers and receive no compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Conflicts of interest must be disclosed to the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 12c
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0WI
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt015650853
IRS990/TotalAssetsEOYAmt015800224
IRS990/TotalAssetsGrp/BOYAmt015650853
IRS990/TotalAssetsGrp/EOYAmt015800224
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0575000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0425121
IRS990/TotalFunctionalExpensesGrp/TotalAmt0425121
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09233097
IRS990/TotalLiabilitiesEOYAmt08818161
IRS990/TotalLiabilitiesGrp/BOYAmt09233097
IRS990/TotalLiabilitiesGrp/EOYAmt08818161
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06417756
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06982063
IRS990/TotalProgramServiceExpensesAmt0425121
IRS990/TotalRevenueGrp/ExclusionAmt0414103
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0325
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0989428
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt015650853
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt015800224
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt06417756
IRS990/UnrestrictedNetAssetsGrp/EOYAmt06982063
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0575000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0500 N HARBOR DRIVE
IRS990/USAddress/CityNm0MILWAUKEE
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd053202
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KATE HALFWASSEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum04147658602
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GREAT LAKES FUTURE INC
ReturnHeader/Filer/BusinessNameControlTxt0GREA
ReturnHeader/Filer/EIN0391830616
ReturnHeader/Filer/PhoneNum04147658602
ReturnHeader/Filer/USAddress/AddressLine1Txt0500 N HARBOR DRIVE
ReturnHeader/Filer/USAddress/CityNm0MILWAUKEE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd053202
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Krause & Associates SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01214 Bridge Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Grafton
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd053024
ReturnHeader/PreparerPersonGrp/PhoneNum02623779988
ReturnHeader/PreparerPersonGrp/PreparationDt02016-11-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID KRAUSE
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02016-11-07T14:09:29-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$15,800,224
Liabilities
$8,818,161
Net assets
$6,982,063
Revenue
$989,428
Expenses
$425,121
Net income
$564,307
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.16$0.25$0.08
2016Detailed filing. Detailed filing data is available for this year.$17.6$9.16$8.48$0.50$0.42$0.07
2015Detailed filing. Detailed filing data is available for this year.$15.8$8.82$6.98$0.99$0.43$0.56
2014Detailed filing. Detailed filing data is available for this year.$15.7$9.23$6.42$0.37$0.38$0.01
2013Detailed filing. Detailed filing data is available for this year.$14.3$7.87$6.43$0.28$0.30$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.9$6.43$6.45$0.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.9$4.44$6.44$0.13
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.16$3.15$0.01$0.01