Civic Intelligence

Lake Cunningham Development Trust

990 • Fiscal year 2023 • EIN 82-5231670

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 31, 2024

Organization ProfileN/A
8305 Rainwood RoadOmaha, NE 68122

(402) 934-5656

Siviq Scores

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

Liabilities / Assets

24th percentile

0.02x

Higher debt load relative to assets than 24% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

42nd percentile

0.12x

Higher debt load relative to revenue than 42% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

4th percentile

-86%

Higher net margin than 4% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

80th percentile

$226,642

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 25.4% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

96th percentile

123%

Faster asset growth than 96% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

4th percentile

-61%

Faster revenue growth than 4% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets24th percentile

Assets

Up

$5,665,476

Up $3,124,701 (+123%) from 2022

Net Assets

Up

$5,555,460

Up $3,086,935 (+125%) from 2022

Liabilities

Up

$110,016

Up $37,766 (+52%) from 2022

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin4th percentile

Revenue

Down

$893,044

Down $1,397,940 (-61%) from 2022

Expenses

Down

$1,662,472

Down $437,924 (-21%) from 2022

Net Income

Down

-$769,428

Down $960,016 (-504%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2018: $13,666Liabilities 2018: $553,499Net Assets 2018: -$539,8332018Assets 2019: $234,882Liabilities 2019: $1,794,596Net Assets 2019: -$1,559,7142019Assets 2020: $1,549,420Liabilities 2020: $2,991,140Net Assets 2020: -$1,441,7202020Assets 2021: $3,688,458Liabilities 2021: $1,410,521Net Assets 2021: $2,277,9372021Assets 2022: $2,540,775Liabilities 2022: $72,250Net Assets 2022: $2,468,5252022Assets 2023: $5,665,476Liabilities 2023: $110,016Net Assets 2023: $5,555,4602023Assets 2024: $5,063,277Liabilities 2024: $87,147Net Assets 2024: $4,976,1302024

Highlighted filing

2023

Assets$5,665,476
Liabilities$110,016
Net Assets$5,555,460
Open 2023 Filing

Operations Trend

Revenue Growth4th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2018: $1,010,001Expenses 2018: $1,549,834Net Income 2018: -$539,8332018Revenue 2019: $4,029,511Expenses 2019: $5,049,392Net Income 2019: -$1,019,8812019Revenue 2020: $10,777,600Expenses 2020: $10,659,606Net Income 2020: $117,9942020Revenue 2021: $8,194,435Expenses 2021: $4,474,778Net Income 2021: $3,719,6572021Revenue 2022: $2,290,984Expenses 2022: $2,100,396Net Income 2022: $190,5882022Revenue 2023: $893,044Expenses 2023: $1,662,472Net Income 2023: -$769,4282023Revenue 2024: $1,049,943Expenses 2024: $1,629,273Net Income 2024: -$579,3302024

Highlighted filing

2023

Revenue$893,044
Expenses$1,662,472
Net Income-$769,428
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 31, 2024
Return Version
2023v5.1
Gross Receipts
$895,154
Mission and Program Overview

Mission

The lake cunningham development trust was organized to raise capital to develop and enhance the recreational infrastructure at glenn cunningham lake, a city park in omaha, nebraska, to make the lake and surrounding grounds more attractive and accessible to the community.

To raise capital to develop and enhance the recreational infrastructure at glenn cunningham lake.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$664,000$3,264,595▲ $2,600,595
Cash and Non-Interest-Bearing Accounts$1,589,722$2,059,766▲ $470,044
Land, Buildings, and Equipment, Net$265,271$325,052▲ $59,781
Prepaid Expenses and Deferred Charges$14,112$8,393▼ $5,719
Total Assets$2,540,775$5,665,476▲ $3,124,701
Other Assets Total$7,670$7,670→ $0
Liabilities
Accounts Payable and Accrued Expenses$72,250$110,016▲ $37,766
Total Liabilities$72,250$110,016▲ $37,766
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,202,060$3,464,363▲ $2,262,303
Net Assets Without Donor Restrictions$1,266,465$2,091,097▲ $824,632
Total Net Assets Fund Balance$2,468,525$5,555,460▲ $3,086,935
Total Liabilities and Net Assets / Fund Balance$2,540,775$5,665,476▲ $3,124,701

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$181,853$50,511$232,364
Equipment$143,199$65,473$208,672
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brook BenchExecutive DirectorFT$188,712$37,930$226,642

Board Members and Trustees

NameTitle
Mickey AndersonPresident
Bill SingerVice President
Anne FolkersDirector
Lisa RoskensDirector
Patrick AlstonDirector
Eric TirtilliSecretary
Michael FernenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$439,232
Program Service Revenue
$451,917
Investment Income
$773
Other Revenue
$1,122
All Other Contributions
$439,232
Change in Net Assets
$-769,428

Audited Revenue Reconciliation

Revenue per Audited Statements
$893,044
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$893,044
Total Revenue per Form 990
$893,044
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$886,538
Salaries, Compensation, and Employee Benefits$775,934
Total Fundraising Expense$188,335
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$217,249$147,180$87,939$452,368
Current Officers, Directors, Trustees, and Key Employees-$226,642-$226,642
Occupancy$27,200$70,770$25,160$123,130
Insurance$12,244$52,061$12,244$76,549
Advertising$18,773$27,441$7,840$54,054
Depreciation Depletion$14,896$37,054-$51,950
Other Employee Benefits$29,470$7,634$11,929$49,033
Payroll Taxes$16,229$25,093$6,569$47,891
Fees for Services Accounting$13,208$17,415$13,208$43,831
Office Expenses$26,524$7,183$970$34,677
Other Expenses$7,342$20,429$6,401$34,172
Information Technology$5,125$7,890$5,124$18,139
All Other Expenses$395$15,801$36$16,232
Fees for Services Legal$1,026$1,353$1,026$3,405
Total Functional Expenses$740,861$733,276$188,335$1,662,472

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,662,472
Total Expenses per Audited Statements$1,662,472
Total Expenses per Form 990$1,662,472
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$3,232
Fundraising Direct Expenses$2,110
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
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A draft of the form 990 was provided to all board members for review and approval prior to filing the form 990.”

Form 990, Part VI, Section B, Line 12C

“All officers and directors sign acknowledgement of the conflict of interest policy on an annual basis.”

Form 990, Part VI, Section B, Line 15

“The compensation is based on market salaries for comparable jobs & responsibilities and approved by the board.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Lake Cunningham Development Trust
EIN
82-5231670
Phone
4029345656
Address
8305 RAINWOOD ROAD, OMAHA, NE 68122

Signing Officer

Name
Mickey Anderson
Title
President
Phone
4029345656
Signed
2024-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mickey Anderson
Formed
2018
Legal Domicile
Ne
Voting Board Members
7
Independent Board Members
7
Employees
31
Volunteers
300

Preparer

Firm
Bland & Associates
Address
450 REGENCY PARKWAY, OMAHA, NE 68114
Preparer
Mike Muller
Phone
4023978822
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The organization has received exemption from income taxes under section 501(c)(3) of the internal revenue code and is not classified as a private foundation. As such, no provision for income taxes is reflected in the financial statements. The organization files form 990, return of organization exempt from income tax, in the u.s. Federal and state jurisdictions. As of december 31, 2023, the organization has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. Tax years subsequent to 2020 remain subject to examination by major tax jurisdictions. The organization has concluded that there are no significant uncertain tax positions requiring disclosure, and there are no material amounts of unrecognized tax benefits.”

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IRS990/MissionDesc0THE LAKE CUNNINGHAM DEVELOPMENT TRUST WAS ORGANIZED TO RAISE CAPITAL TO DEVELOP AND ENHANCE THE RECREATIONAL INFRASTRUCTURE AT GLENN CUNNINGHAM LAKE, A CITY PARK IN OMAHA, NEBRASKA, TO MAKE THE LAKE AND SURROUNDING GROUNDS MORE ATTRACTIVE AND ACCESSIBLE TO THE COMMUNITY.
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IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt014112
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt08393
IRS990/PrincipalOfficerNm0MICKEY ANDERSON
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IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0451917
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02036513
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
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IRS990/PYOtherRevenueAmt0-2486
IRS990/PYProgramServiceRevenueAmt0256957
IRS990/PYRevenuesLessExpensesAmt0190588
IRS990/PYSalariesCompEmpBnftPaidAmt0678184
IRS990/PYTotalExpensesAmt02100396
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02290984
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-769428
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
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IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0451917
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0439232
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt08077288
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt010777600
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt04029311
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt025359944
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01895
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01895
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0823535
IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt010777600
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt065473
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0893044
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS RECEIVED EXEMPTION FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS NOT CLASSIFIED AS A PRIVATE FOUNDATION. AS SUCH, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THE FINANCIAL STATEMENTS. THE ORGANIZATION FILES FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, IN THE U.S. FEDERAL AND STATE JURISDICTIONS. AS OF DECEMBER 31, 2023, THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. TAX YEARS SUBSEQUENT TO 2020 REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS. THE ORGANIZATION HAS CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING DISCLOSURE, AND THERE ARE NO MATERIAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0325052
IRS990ScheduleD/TotalExpensesPerForm990Amt01662472
IRS990ScheduleD/TotalRevenuePerForm990Amt0893044
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0893044
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IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0BROOK BENCH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF THE FORM 990 WAS PROVIDED TO ALL BOARD MEMBERS FOR REVIEW AND APPROVAL PRIOR TO FILING THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL OFFICERS AND DIRECTORS SIGN ACKNOWLEDGEMENT OF THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION IS BASED ON MARKET SALARIES FOR COMPARABLE JOBS & RESPONSIBILITIES AND APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NE
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt02540775
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0740861
IRS990/TotalFunctionalExpensesGrp/TotalAmt01662472
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt0110016
IRS990/TotalLiabilitiesGrp/BOYAmt072250

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,665,476
Liabilities
$110,016
Net assets
$5,555,460
Revenue
$893,044
Expenses
$1,662,472
Net income
-$769,428
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.06$0.09$4.98$1.05$1.63$0.58
2023Detailed filing. Detailed filing data is available for this year.$5.67$0.11$5.56$0.89$1.66$0.77
2022Detailed filing. Detailed filing data is available for this year.$2.54$0.07$2.47$2.29$2.10$0.19
2021Detailed filing. Detailed filing data is available for this year.$3.69$1.41$2.28$8.19$4.47$3.72
2020Detailed filing. Detailed filing data is available for this year.$1.55$2.99$1.44$10.8$10.7$0.12
2019Detailed filing. Detailed filing data is available for this year.$0.23$1.79$1.56$4.03$5.05$1.02
2018Detailed filing. Detailed filing data is available for this year.$0.01$0.55$0.54$1.01$1.55$0.54