Civic Intelligence

Great Lakes Future Inc

990 • Fiscal year 2017 • EIN 39-1830616

Jan 01, 2017 to Dec 31, 2017 • Filed on May 09, 2018

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

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2017

Liabilities / Revenue

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

8th percentile

-50%

Higher net margin than 8% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

6th percentile

-67%

Faster revenue growth than 6% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $17,639,284 (-100%) from 2016

Net Assets

Down

$0

Down $8,480,498 (-100%) from 2016

Liabilities

Down

$0

Down $9,158,786 (-100%) from 2016

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin8th percentile

Revenue

Down

$163,563

Down $332,788 (-67%) from 2016

Expenses

Down

$245,065

Down $179,531 (-42%) from 2016

Net Income

Down

-$81,502

Down $153,257 (-214%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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

2017

Assets$0
Liabilities$0
Net Assets$0
Open 2017 Filing

Operations Trend

Revenue Growth6th 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

2017

Revenue$163,563
Expenses$245,065
Net Income-$81,502
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 9, 2018
Return Version
2017v2.2
Gross Receipts
$163,563
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$9,569,363--
Accounts Receivable$80,628--
Intangible Assets$5,249--
Cash and Non-Interest-Bearing Accounts$1,577--
Total Assets$17,639,284$0▼ $17,639,284
Other Assets Total$7,982,467--
Liabilities
Accounts Payable and Accrued Expenses$9,158,786--
Total Liabilities$9,158,786$0▼ $9,158,786
Net Assets / Fund Balance
Unrestricted Net Assets$8,480,498--
Total Net Assets Fund Balance$8,480,498$0▼ $8,480,498
Total Liabilities and Net Assets / Fund Balance$17,639,284$0▼ $17,639,284
Compensation and Service Providers
Top Officer Pay76th 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
$163,563
Other Revenue
$0
Change in Net Assets
$-81,502
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$235,500
Other Expenses$9,565
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$235,500--$235,500
Depreciation Depletion$5,249$0$0$5,249
Other Expenses$4,316$0$0$4,316
Total Functional Expenses$245,065$0$0$245,065
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
2018-05-09
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

“During 2017 Great Lakes Future, Inc. (a supporting organization of Discovery World, Ltd. EIN 39-1691578) completed a merger with Discovery World, Ltd. The result of the merger was an decrease in the net assets of Great Lakes Future.”

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.”

Raw XML Appendix349 raw XML fields

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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt IV, Line 2b
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A copy of the 990 and applicable schedules is provided to the volunteer board of directors for review and approval prior to submission.
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/ExplanationTxt4During 2017 Great Lakes Future, Inc. (a supporting organization of Discovery World, Ltd. EIN 39-1691578) completed a merger with Discovery World, Ltd. The result of the merger was an decrease in the net assets of Great Lakes Future.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt XI
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ReturnHeader/FilingSecurityInformation/IPTm012:43:15
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ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$163,563
Expenses
$245,065
Net income
-$81,502
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