Civic Intelligence

Three Lakes Foundation Trust

990PF • Fiscal year 2025 • EIN 84-6979177

Jan 01, 2025 to Aug 01, 2025 • Filed on Jan 27, 2026

Organization Profile
3100 Sanders Rd 500Northbrook, IL 60062-7155

(847) 559-2001

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 2025

Liabilities / Revenue

63rd percentile

0.00x

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

2025 filings • <$500k nonprofits • Source year 2025

Net Margin

1st percentile

-1790%

Higher net margin than 1% of similar nonprofits.

2025 filings • <$500k nonprofits • Source year 2025

Top Officer Pay

80th percentile

$0

Higher top officer pay than 80% of similar nonprofits.

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

2025 filings • <$500k nonprofits • Source year 2025

Asset Growth

3rd percentile

-100%

Faster asset growth than 3% of similar nonprofits.

2025 filings • <$500k nonprofits • Annualized from 2024 to 2025

Revenue Growth

24th percentile

-17%

Faster revenue growth than 24% of similar nonprofits.

2025 filings • <$500k nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $594,643 (-100%) from 2024

Net Assets

Down

$0

Down $569,556 (-100%) from 2024

Liabilities

Down

$0

Down $25,087 (-100%) from 2024

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin1st percentile

Revenue

Down

$31,811

Down $6,666 (-17%) from 2024

Expenses

Down

$601,367

Down $44,381 (-6.9%) from 2024

Net Income

Up

-$569,556

Up $37,715 (+6.2%) from 2024

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2020: $3,990,553Liabilities 2020: $3,990,553Net Assets 2020: $02020Assets 2021: $7,631,596Liabilities 2021: $5,490,777Net Assets 2021: $2,140,8192021Assets 2022: $1,774,254Liabilities 2022: $1,135,488Net Assets 2022: $638,7662022Assets 2023: $1,803,147Liabilities 2023: $626,320Net Assets 2023: $1,176,8272023Assets 2024: $594,643Liabilities 2024: $25,087Net Assets 2024: $569,5562024Assets 2025: $0Liabilities 2025: $0Net Assets 2025: $02025

Highlighted filing

2025

Assets$0
Liabilities$0
Net Assets$0
Open 2025 Filing

Operations Trend

Revenue Growth24th percentile

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2020: $7,017,609Expenses 2020: $8,656,577Net Income 2020: -$1,638,9682020Revenue 2021: $18,025,857Expenses 2021: $6,146,529Net Income 2021: $11,879,3282021Revenue 2022: $13,646Expenses 2022: $1,515,699Net Income 2022: -$1,502,0532022Revenue 2023: $6,144,439Expenses 2023: $3,342,601Net Income 2023: $2,801,8382023Revenue 2024: $38,477Expenses 2024: $645,748Net Income 2024: -$607,2712024Revenue 2025: $31,811Expenses 2025: $601,367Net Income 2025: -$569,5562025

Highlighted filing

2025

Revenue$31,811
Expenses$601,367
Net Income-$569,556
Open 2025 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2025 to Aug 1, 2025
Signed
Jan 27, 2026
Return Version
2024v5.1
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
-Trustee-$0--
Grants and Assistance

Foundation Grants and Related Investments

TypeRecipientPurposeStatusLocationAmount
Paid GrantNew Venture FundThree Lakes 12 to 20 Project to support the advancement of therapies for pulmonary fibrosis.PCWashington, DC, US$417,445
Filing and Contact Details

Filer

Filer Name
Three Lakes Foundation Trust
EIN
84-6979177
Phone
8475592001
Address
3100 Sanders Rd 500, Northbrook, IL 60062-7155

Signing Officer

Name
Sarah Barry
Title
Trustee
Phone
8475592001
Signed
2026-01-27
Discuss with paid preparer
Yes

Preparer

Firm
Ernst & Young US Llp
Address
155 N WACKER DRIVE, CHICAGO, IL 60606
Preparer
Voula Spyridis
Phone
3128792000
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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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IRS990PF/SupplementaryInformationGrp/ContributingManagerNm0J THOMAS HURVIS TRUSTEE
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IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt0Three Lakes 12 to 20 Project to support the advancement of therapies for pulmonary fibrosis.
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt0New Venture Fund
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LiquidationExplanationStmt/ExplanationTxt0Three Lakes Foundation Trust, an Illinois charitable Trust (the "Trust"), was established on January 21, 2020, and received its determination letter from the Internal Revenue Service indicating that it was a Section 501(c)(3) exempt private foundation on May 3, 2020. A copy of the determination letter is attached as Exhibit 1. The Trust's charitable activities focused on funding medical research, advancing innovative therapies and diagnostics, supporting patient care initiatives, and fostering global collaborations. The Trust worked to accelerate early detection, improve treatment options, and connect stakeholders across science, healthcare, and patient communities. Due to changed circumstances, the sole member of the Distribution Committee and the Trustee of the Trust determined that the Trust should terminate and transfer all of its property to a public charity to better achieve its charitable purposes. As part of this determination, the Trustee made a terminating distribution of the Trust to New Venture Fund, a District of Columbia nonprofit corporation (the "Charity"), to be used by the Charity only for charitable, educational, scientific, and other tax-exempt purposes within the meaning of Section 501(c)(3), and specifically for the "Three Lakes 12-20 Project," (the "Project"). The following actions were taken to wind up the affairs of the Trust to terminate as applicable under IRC Section 507(b)(1)(A): On May 22, 2025, the sole member of the Distribution Committee of the Trust executed that certain Direction of the Distribution Committee whereby he directed the distribution of all the property of the Trust to the Charity for the Project. A copy of the Direction of the Distribution Committee is attached as Exhibit 2. On May 22, 2025, the Trustee of the Trust executed that certain Memorandum of Trustee Action and Termination of Trust whereby he resolved to distribute all the property of the Trust, as provided in that certain Transfer Agreement, dated May 22, 2025, by and between the Trust and the Charity, and terminate the Trust. A copy of the Memorandum of Trustee Action and Termination of Trust is attached as Exhibit 3. A copy of the Transfer Agreement is attached as Exhibit 4. On July 14, 2025, the Illinois Attorney General consented to the termination of the Trust via a distribution of all the property of the Trust in accordance with the Transfer Agreement. A copy of the Illinois Attorney General Consent correspondence is attached as Exhibit 5.
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SARAH BARRY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
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ReturnHeader/BusinessOfficerGrp/SignatureDt02026-01-27
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ReturnHeader/Filer/BusinessNameControlTxt0THRE
ReturnHeader/Filer/EIN0846979177
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ReturnHeader/Filer/USAddress/CityNm0Northbrook
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ReturnHeader/PreparerPersonGrp/PreparationDt02026-01-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Voula Spyridis
ReturnHeader/ReturnTs02026-01-27T16:13:49+00:00
ReturnHeader/ReturnTypeCd0990PF
ReturnHeader/TaxPeriodBeginDt02025-01-01
ReturnHeader/TaxPeriodEndDt02025-08-01
ReturnHeader/TaxYr02024

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2025 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$31,811
Expenses
$601,367
Net income
-$569,556
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.03$0.60$0.57
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.59$0.03$0.57$0.04$0.65$0.61
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.80$0.63$1.18$6.14$3.34$2.80
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.77$1.14$0.64$0.01$1.52$1.50
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.63$5.49$2.14$18.0$6.15$11.9
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.99$3.99$0.00$7.02$8.66$1.64
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