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Lake Region Electric Trust

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 205114301 ✦ Pelican rapids, MN ✦ Designated as a 501(c)(3)

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Overview

What is Lake Region Electric Trust?

Lake Region Electric Trust is a benevolent organization headquartered in the Pelican Rapids region of Minnesota. This charitable corporation operates with the primary goal of promoting education and supporting charitable causes, aligning with Section 501(c)(3) of the Internal Revenue Code. Its mission is to amass resources for the betterment of its local community by means of donations, grants, and various forms of assistance. The Trust's objective is to distribute these resources to eligible organizations that share its commitment to advancing charitable endeavors.


Official website here: www.lrec.coop

Is Lake Region Electric Trust legitimate?

Lake Region Electric Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Region Electric Trust submitted a form 990EZ, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.


Heare are some key statistics you may want to consider:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

For more financial information, click here


Official website here: www.lrec.coop

What is the mission statement of Lake Region Electric Trust?

The Lake Region Electric Trust, functioning as a charitable corporation, is dedicated to promoting educational initiatives within its jurisdiction. Its mission, in line with Section 501(c)(3) of the Internal Revenue Code, involves making distributions to eligible charitable organizations that advance their causes. The primary objective of this trust is to accumulate resources for the betterment of its community through donations, grants, and various forms of support.


Official website here: www.lrec.coop

What is the revenue of Lake Region Electric Trust?

Lake Region Electric Trust's revenue in 2023 was $141,777.


Official website here: www.lrec.coop

Who are the executives of Lake Region Electric Trust and what are their salaries?

Here are 12 key members and their salaries:


Denise Laymon (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Kristie Partain (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Tex Larson (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Nick Murdock (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Karen Hart (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Patty Johnson (Chair)
  • Compensation: $0
  • Related: $0
  • Other: $0
Don Davenport (Vice Chair)
  • Compensation: $0
  • Related: $0
  • Other: $0
Polly Reitan (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ruth Vetter (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Amanda Fuller (Executive Director (Started 9/23))
  • Compensation: $0
  • Related: $0
  • Other: $0
Tiffini Dankert (Recording Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Theresa Halverson (Executive Director (Thru 9/23))
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.lrec.coop

Where can I find the form 990EZ for Lake Region Electric Trust?

Lake Region Electric Trust's most recent form 990EZ was submitted in 2023 and can be accessed here.


Official website here: www.lrec.coop

Learn more at the official website: www.lrec.coop

Mission Statement of Lake Region Electric Trust

The Lake Region Electric Trust, a charitable corporation, is committed to advancing educational pursuits within its community in Pelican Rapids, Minnesota. With a mission rooted in Section 5001(c)(3) of the Internal Revenue Code, this organization aims to distribute funds to qualifying charitable entities and contribute to the betterment of its community. The Lake Region Electric Trust's primary goal is to accumulate resources for the benefit of its community, achieving this through donations, grants, and various forms of support. This nonprofit entity is dedicated to promoting charitable causes and making a positive impact on the lives of its community members.

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Impact




October, 2024

Lake Region Electric Trust significantly impacts the Pelican Rapids community in Minnesota by promoting educational opportunities and supporting charitable causes. The trust accumulates resources to provide financial assistance through donations and grants to organizations that meet the criteria outlined in Section 501(c)(3) of the Internal Revenue Code. This initiative fosters community development, enhances educational programs, and addresses various local needs, thereby contributing to the overall wellbeing and advancement of the Pelican Rapids area. By focusing on charitable giving, the trust plays a crucial role in enriching lives and creating positive change within the community.




This information is meant to be a general summary of Lake Region Electric Trust. Please take the time to review official sources before making any decisions based upon the content provided here.


Financials

This financial information is from Propublica.

Revenue
$141,777 (2023)
2017201820192020202120222023$0$40,000$80,000$120k$160k
Expenses
$113,110 (2023)
2017201820192020202120222023$0$30,000$60,000$90,000$120k
Efficiency
20172018201920202021202220230%0.2%0.4%0.6%0.8%1%

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2023.

  • Gross Receipts: $141,777

Assets and Liabilities:

  • Total Assets: $203,438
  • Total Liabilities: $6,175
  • Net Assets: $197,263

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Organization Details

Principal Officer

Denise Laymon

Main Address

PO BOX 643, PELICAN RAPIDS, MN, 56572

NTEE Category

Code: T31 - Philanthropy

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