Civic Intelligence

Laker Prep Early Childhood

EIN 85-4249341 • 501(c)3

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

95th percentile

1.12x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

62nd percentile

0.16x

Higher debt load relative to revenue than 62% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

30th percentile

-3.9%

Higher net margin than 30% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

50th percentile

$56,034

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

8th percentile

-25%

Faster asset growth than 8% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

28th percentile

-5.3%

Faster revenue growth than 28% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

$180,912

No earlier filing loaded for comparison.

Liabilities

$202,662

No earlier filing loaded for comparison.

Net Assets

-$21,750

No earlier filing loaded for comparison.

Revenue

$1,283,735

No earlier filing loaded for comparison.

Expenses

$1,334,177

No earlier filing loaded for comparison.

Net Income

-$50,442

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300K$200K$100K$0-$100KAssets 2024: $180,912Liabilities 2024: $202,662Net Assets 2024: -$21,7502024

Highlighted filing

2024

Assets$180,912
Liabilities$202,662
Net Assets-$21,750

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2024: $1,283,735Expenses 2024: $1,334,177Net Income 2024: -$50,4422024

Highlighted filing

2024

Revenue$1,283,735
Expenses$1,334,177
Net Income-$50,442

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.0
Gross Receipts
$1,283,735
Mission and Program Overview

Mission

Dedicated to the care and development of children 8 weeks to 6 years old. Nurture and individualize early childhood care and learning to accomodate both child and family needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$83,490$76,043▼ $7,447
Land, Buildings, and Equipment, Net$74,788$62,807▼ $11,981
Accounts Receivable$50,236$28,365▼ $21,871
Cash and Non-Interest-Bearing Accounts$26,343$22,522▼ $3,821
Prepaid Expenses and Deferred Charges-$37-
Total Assets$240,941$180,912▼ $60,029
Other Assets Total$89,574$67,181▼ $22,393
Liabilities
Other Liabilities$98,569$81,119▼ $17,450
Unsecured Notes Loans Payable$25,000$45,000▲ $20,000
Accounts Payable and Accrued Expenses$5,190$500▼ $4,690
Total Liabilities$212,249$202,662▼ $9,587
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$28,692$-21,750▼ $50,442
Total Net Assets Fund Balance$28,692$-21,750▼ $50,442
Total Liabilities and Net Assets / Fund Balance$240,941$180,912▼ $60,029

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$36,735$20,566$57,301
Other Land Buildings$26,072$10,428$36,500
Other Assets Org$67,181--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Eric RotterAsst Dir/bdFT$42,312$13,722$56,034
Mary RotterProgram DireFT$51,969-$51,969

Board Members and Trustees

NameTitle
Peter JacobsenChair
Josh HochgrabberVice Chair
Alissa HobanBoard Member
MARY O'BRIANBoard Member
Tessa FenuBoard Member
Amanda HansonTreas/secr
Revenue and Support

Revenue Composition

Contributions and Grants
$170,103
Program Service Revenue
$1,103,493
Investment Income
$0
Other Revenue
$10,139
All Other Contributions
$14,394
Change in Net Assets
$-50,442

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,283,735
Revenue Not Reported on Form 990
$9,810
Total Revenue per Audited Statements
$1,293,545
Total Revenue per Form 990
$1,283,735
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,037,645
Other Expenses$296,532
Total Fundraising Expense$5,299
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$786,192$2,690-$788,882
Payroll Taxes$133,520$7,213-$140,733
Occupancy$131,256--$131,256
Current Officers, Directors, Trustees, and Key Employees$12,348$90,806$4,849$108,003
Fees for Services Other-$22,524-$22,524
Depreciation Depletion$11,836$3,946-$15,782
Insurance-$7,612-$7,612
Interest-$6,948-$6,948
All Other Expenses$2,459$2,769-$5,228
Advertising-$4,253$250$4,503
Other Expenses$29,774$2,768$200$2,768
Office Expenses-$2,518-$2,518
Other Employee Benefits$27--$27
Total Functional Expenses$1,166,556$162,322$5,299$1,334,177

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,343,987
Expenses per Audited Statements$1,334,177
Total Expenses per Form 990$1,334,177
Expenses Not Reported on Form 990$9,810
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Founders/boardRent of FacilityNo$81,990
-Founders/boardRent of FacilityNo$27,000
-Founders/boardEquipment LoanNo$11,460

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$83,490$76,043▼ $7,447
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$72,033
Compensated Absences Payable$9,086
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
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, Page 6, Part VI, Line 2

Mary rotter eric rotter program dir bd/asst dir married/founders

Form 990, Page 6, Part VI, Line 11B

The assistant director will review the return prior to filing.

Form 990, Page 6, Part VI, Line 15A

The process for determining compensation for the director and assistant director was market research of current openings in and around the state of mn with childcares of similar sizes. It was conducted by the assistant director and presented to the board for review and input.

Form 990, Page 6, Part VI, Line 15B

The process for determining compensation for the director and assistant director was market research of current openings in and around the state of mn with childcares of similar sizes. It was conducted by the assistant director and presented to the board for review and input.

Form 990, Page 6, Part VI, Line 19

Upon request to office or board.

Filing and Contact Details

Filer

Filer Name
Laker Prep Early Childhood
EIN
85-4249341
Phone
2188443220
Address
551 11TH AVE SE, DETROIT LAKES, MN 56501

Signing Officer

Name
Eric Rotter
Title
Asst Dir/bd Member
Phone
2188443220
Signed
2025-11-12

Organization Details

Principal Officer
Eric Rotter
Formed
2022
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
6
Employees
41

Preparer

Firm
Haga Kommer Ltd
Address
204 E MAIN ST, MANDAN, ND 58554
Preparer
Lynnell Rude CPA
Phone
7637804015
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

Laker prep is becker county's largest non-profit based childcare organization advocating for and serving families with high quality programming for children ages birth to five. Developed to fill a gap in year-round, all-day care, laker prep started in 2011 serving 10 families and quickly expanded to its current level of 90 families. Focused on serving the heart of its community, laker prep embraces diverse access to its wide range of services. Currently, 27% of children at laker prep receive subsidies, and 25% of enrolled children identify as non-white. Families currently served are in manufacturing, education, trades, retail, tourism, government, medical and human services fields. Standing firm in the belief that "big success starts small," laker prep staff and leadership are devoted to providing multiple avenues to the quality programming that rears the next generation of kind, successful, and thoughtful community leaders. Partnerships with external service providers ensure that children with all levels of need work towards developmental milestones and move into kindergarten with the skills necessary to be successful. Taking a comprehensive view of growing and stabilizing the childcare industry, laker prep focuses on childcare advocacy and reform, engaging in regional and statewide forums, task forces, and initiatives. Laker prep directors are also committed to mentoring and developing the next cohort of childcare practitioners. They partner with the local high school in creating opportunities for students to earn a child development associate and current laker prep staff are supported and incentivised to seek additional qualifications and certifications. Integrating itself in the network of family focused community organizations, laker prep supports and provides community activities, events, and resources to the area as a whole. As support for the organization increases, so too will the offerings for families around the region. Big success for laker prep means big success for the community, and it all starts small, with support from funders, community members, and all those willing to invest in the future.

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IRS990/Desc0LAKER PREP IS BECKER COUNTY'S LARGEST NON-PROFIT BASED CHILDCARE ORGANIZATION ADVOCATING FOR AND SERVING FAMILIES WITH HIGH QUALITY PROGRAMMING FOR CHILDREN AGES BIRTH TO FIVE. DEVELOPED TO FILL A GAP IN YEAR-ROUND, ALL-DAY CARE, LAKER PREP STARTED IN 2011 SERVING 10 FAMILIES AND QUICKLY EXPANDED TO ITS CURRENT LEVEL OF 90 FAMILIES. FOCUSED ON SERVING THE HEART OF ITS COMMUNITY, LAKER PREP EMBRACES DIVERSE ACCESS TO ITS WIDE RANGE OF SERVICES. CURRENTLY, 27% OF CHILDREN AT LAKER PREP RECEIVE SUBSIDIES, AND 25% OF ENROLLED CHILDREN IDENTIFY AS NON-WHITE. FAMILIES CURRENTLY SERVED ARE IN MANUFACTURING, EDUCATION, TRADES, RETAIL, TOURISM, GOVERNMENT, MEDICAL AND HUMAN SERVICES FIELDS. STANDING FIRM IN THE BELIEF THAT "BIG SUCCESS STARTS SMALL," LAKER PREP STAFF AND LEADERSHIP ARE DEVOTED TO PROVIDING MULTIPLE AVENUES TO THE QUALITY PROGRAMMING THAT REARS THE NEXT GENERATION OF KIND, SUCCESSFUL, AND THOUGHTFUL COMMUNITY LEADERS. PARTNERSHIPS WITH EXTERNAL SERVICE PROVIDERS ENSURE THAT CHILDREN WITH ALL LEVELS OF NEED WORK TOWARDS DEVELOPMENTAL MILESTONES AND MOVE INTO KINDERGARTEN WITH THE SKILLS NECESSARY TO BE SUCCESSFUL. TAKING A COMPREHENSIVE VIEW OF GROWING AND STABILIZING THE CHILDCARE INDUSTRY, LAKER PREP FOCUSES ON CHILDCARE ADVOCACY AND REFORM, ENGAGING IN REGIONAL AND STATEWIDE FORUMS, TASK FORCES, AND INITIATIVES. LAKER PREP DIRECTORS ARE ALSO COMMITTED TO MENTORING AND DEVELOPING THE NEXT COHORT OF CHILDCARE PRACTITIONERS. THEY PARTNER WITH THE LOCAL HIGH SCHOOL IN CREATING OPPORTUNITIES FOR STUDENTS TO EARN A CHILD DEVELOPMENT ASSOCIATE AND CURRENT LAKER PREP STAFF ARE SUPPORTED AND INCENTIVISED TO SEEK ADDITIONAL QUALIFICATIONS AND CERTIFICATIONS. INTEGRATING ITSELF IN THE NETWORK OF FAMILY FOCUSED COMMUNITY ORGANIZATIONS, LAKER PREP SUPPORTS AND PROVIDES COMMUNITY ACTIVITIES, EVENTS, AND RESOURCES TO THE AREA AS A WHOLE. AS SUPPORT FOR THE ORGANIZATION INCREASES, SO TOO WILL THE OFFERINGS FOR FAMILIES AROUND THE REGION. BIG SUCCESS FOR LAKER PREP MEANS BIG SUCCESS FOR THE COMMUNITY, AND IT ALL STARTS SMALL, WITH SUPPORT FROM FUNDERS, COMMUNITY MEMBERS, AND ALL THOSE WILLING TO INVEST IN THE FUTURE.
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0ROTTER PROPERTIES LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1ROTTER PROPERTIES LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt2LAKER PREP PRESCHOOL INC
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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0ERIC & MARY ROTTER, FOUNDERS OF THE ORGANIZATION, ARE OWNERS OF ROTTER PROPERTIES, LLC. ROTTER PROPERTIES, LLC OWNS THE EARLY CHILDHOOD SITE IN DETROIT LAKES, MN. THIS IS A MONTH-TO-MONTH AGREEMENT FOR 7,650 PER MONTH. ROTTER PROPERTIES, LLC ALSO OWNS THE PRESCHOOL SITE IN DETROIT LAKES, MN. THIS IS A 5 YEAR NONCANCELABLE LEASE RECORDED ON THE FINANCIALS AS AN OPERATING LEASE. MONTHLY PAYMENTS ON THIS LEASE ARE 2,250. ERIC & MARY ROTTER, FOUNDERS OF THE ORGANIZATION, ARE ALSO SHAREHOLDERS IN LAKER PREP PRESCHOOL, AN S-CORPORATION UNDER WHICH THEY OPERATED A DAYCARE/PRESCHOOL THROUGH DECEMBER 2022. THE S-CORPORATION SOLD ALL EQUIPMENT TO LAKER PREP EARLY CHILDHOOD AT ITS INCEPTION IN DECEMBER 2022. A DETAIL INVENTORY OF EQUIPMENT SOLD WAS CREATED AND SOLD AT FAIR MARKET VALUE TO THE NON-PROFIT ORGANIZATION FOR 90,000. THE S-CORPORATION FINANCED THE SALE WITH A 5%, 120 MONTH LOAN, WITH PAYMENTS OF 955/MONTH. IN 2024, ROTTER PROPERTIES, LLC WAIVED RENT OF 9,810 OF THE AMOUNTS ABOVE.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LAKER PREP IS BECKER COUNTY'S LARGEST NON-PROFIT BASED CHILDCARE ORGANIZATION ADVOCATING FOR AND SERVING FAMILIES WITH HIGH QUALITY PROGRAMMING FOR CHILDREN AGES BIRTH TO FIVE. DEVELOPED TO FILL A GAP IN YEAR-ROUND, ALL-DAY CARE, LAKER PREP STARTED IN 2011 SERVING 10 FAMILIES AND QUICKLY EXPANDED TO ITS CURRENT LEVEL OF 90 FAMILIES. FOCUSED ON SERVING THE HEART OF ITS COMMUNITY, LAKER PREP EMBRACES DIVERSE ACCESS TO ITS WIDE RANGE OF SERVICES. CURRENTLY, 27% OF CHILDREN AT LAKER PREP RECEIVE SUBSIDIES, AND 25% OF ENROLLED CHILDREN IDENTIFY AS NON-WHITE. FAMILIES CURRENTLY SERVED ARE IN MANUFACTURING, EDUCATION, TRADES, RETAIL, TOURISM, GOVERNMENT, MEDICAL AND HUMAN SERVICES FIELDS. STANDING FIRM IN THE BELIEF THAT "BIG SUCCESS STARTS SMALL," LAKER PREP STAFF AND LEADERSHIP ARE DEVOTED TO PROVIDING MULTIPLE AVENUES TO THE QUALITY PROGRAMMING THAT REARS THE NEXT GENERATION OF KIND, SUCCESSFUL, AND THOUGHTFUL COMMUNITY LEADERS. PARTNERSHIPS WITH EXTERNAL SERVICE PROVIDERS ENSURE THAT CHILDREN WITH ALL LEVELS OF NEED WORK TOWARDS DEVELOPMENTAL MILESTONES AND MOVE INTO KINDERGARTEN WITH THE SKILLS NECESSARY TO BE SUCCESSFUL. TAKING A COMPREHENSIVE VIEW OF GROWING AND STABILIZING THE CHILDCARE INDUSTRY, LAKER PREP FOCUSES ON CHILDCARE ADVOCACY AND REFORM, ENGAGING IN REGIONAL AND STATEWIDE FORUMS, TASK FORCES, AND INITIATIVES. LAKER PREP DIRECTORS ARE ALSO COMMITTED TO MENTORING AND DEVELOPING THE NEXT COHORT OF CHILDCARE PRACTITIONERS. THEY PARTNER WITH THE LOCAL HIGH SCHOOL IN CREATING OPPORTUNITIES FOR STUDENTS TO EARN A CHILD DEVELOPMENT ASSOCIATE AND CURRENT LAKER PREP STAFF ARE SUPPORTED AND INCENTIVISED TO SEEK ADDITIONAL QUALIFICATIONS AND CERTIFICATIONS. INTEGRATING ITSELF IN THE NETWORK OF FAMILY FOCUSED COMMUNITY ORGANIZATIONS, LAKER PREP SUPPORTS AND PROVIDES COMMUNITY ACTIVITIES, EVENTS, AND RESOURCES TO THE AREA AS A WHOLE. AS SUPPORT FOR THE ORGANIZATION INCREASES, SO TOO WILL THE OFFERINGS FOR FAMILIES AROUND THE REGION. BIG SUCCESS FOR LAKER PREP MEANS BIG SUCCESS FOR THE COMMUNITY, AND IT ALL STARTS SMALL, WITH SUPPORT FROM FUNDERS, COMMUNITY MEMBERS, AND ALL THOSE WILLING TO INVEST IN THE FUTURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MARY ROTTER ERIC ROTTER PROGRAM DIR BD/ASST DIR MARRIED/FOUNDERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ASSISTANT DIRECTOR WILL REVIEW THE RETURN PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS FOR DETERMINING COMPENSATION FOR THE DIRECTOR AND ASSISTANT DIRECTOR WAS MARKET RESEARCH OF CURRENT OPENINGS IN AND AROUND THE STATE OF MN WITH CHILDCARES OF SIMILAR SIZES. IT WAS CONDUCTED BY THE ASSISTANT DIRECTOR AND PRESENTED TO THE BOARD FOR REVIEW AND INPUT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS FOR DETERMINING COMPENSATION FOR THE DIRECTOR AND ASSISTANT DIRECTOR WAS MARKET RESEARCH OF CURRENT OPENINGS IN AND AROUND THE STATE OF MN WITH CHILDCARES OF SIMILAR SIZES. IT WAS CONDUCTED BY THE ASSISTANT DIRECTOR AND PRESENTED TO THE BOARD FOR REVIEW AND INPUT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UPON REQUEST TO OFFICE OR BOARD.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
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