Civic Intelligence

Great Lakes Future Inc

990 • Fiscal year 2016 • EIN 39-1830616

Jan 01, 2016 to Dec 31, 2016 • Filed on May 03, 2017

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

73rd percentile

0.52x

Higher debt load relative to assets than 73% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

98th percentile

18.45x

Higher debt load relative to revenue than 98% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

76th percentile

14%

Higher net margin than 76% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

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.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

78th percentile

12%

Faster asset growth than 78% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

5th percentile

-50%

Faster revenue growth than 5% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$17,639,284

Up $1,839,060 (+12%) from 2015

Net Assets

Up

$8,480,498

Up $1,498,435 (+21%) from 2015

Liabilities

Up

$9,158,786

Up $340,625 (+3.9%) from 2015

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin76th percentile

Revenue

Down

$496,351

Down $493,077 (-50%) from 2015

Expenses

Down

$424,596

Down $525 (-0.1%) from 2015

Net Income

Down

$71,755

Down $492,552 (-87%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth78th 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

2016

Assets$17,639,284
Liabilities$9,158,786
Net Assets$8,480,498
Open 2016 Filing

Operations Trend

Revenue Growth5th 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

2016

Revenue$496,351
Expenses$424,596
Net Income$71,755
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 3, 2017
Return Version
2016v3.0
Gross Receipts
$496,351
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$9,569,363▲ $7,868,880
Accounts Receivable-$80,628-
Intangible Assets$14,247$5,249▼ $8,998
Cash and Non-Interest-Bearing Accounts$827$1,577▲ $750
Total Assets$15,800,224$17,639,284▲ $1,839,060
Other Assets Total$14,084,667$7,982,467▼ $6,102,200
Liabilities
Accounts Payable and Accrued Expenses$8,818,161$9,158,786▲ $340,625
Total Liabilities$8,818,161$9,158,786▲ $340,625
Net Assets / Fund Balance
Unrestricted Net Assets$6,982,063$8,480,498▲ $1,498,435
Total Net Assets Fund Balance$6,982,063$8,480,498▲ $1,498,435
Total Liabilities and Net Assets / Fund Balance$15,800,224$17,639,284▲ $1,839,060

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$7,982,467--
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$496,351
Other Revenue
$0
Change in Net Assets
$71,755
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$409,500
Other Expenses$15,096
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$409,500--$409,500
Depreciation Depletion$8,998$0$0$8,998
Other Expenses$5,473$0$0$5,473
Fees for Services Accounting$625$0$0$625
Total Functional Expenses$424,596$0$0$424,596
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Discovery World LtdMilwaukee, WI501(c)(3)Operations support$409,500
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
2017-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kate Halfwassen
Formed
1995
Legal Domicile
Wi
Voting Board Members
5
Independent Board Members
5
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.”

Pt XI

“Increase in net assets resulting from consolidation related to to call option exercised.”

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization has no employees and pays no salaries or wages. Board members serve as volunteers and receive no compensation.
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/ExplanationTxt4Increase in net assets resulting from consolidation related to to call option exercised.
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0496351
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt015800224
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt017639284
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt06982063
IRS990/UnrestrictedNetAssetsGrp/EOYAmt08480498
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0500 N HARBOR DRIVE
IRS990/USAddress/CityNm0MILWAUKEE
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd053202
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
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/SignatureDt02017-05-03
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
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0126090000B267E844B9D739F5ACB3F8D80631CAA
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0126090000B267E844B9D739F5ACB3F8D80631CAA
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt072.131.3.228
ReturnHeader/FilingSecurityInformation/IPDt02017-07-20
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm012:55:38
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/PreparationDt02017-07-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID KRAUSE
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02017-07-20T12:55:53-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,639,284
Liabilities
$9,158,786
Net assets
$8,480,498
Revenue
$496,351
Expenses
$424,596
Net income
$71,755
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